Perusahaan Gas Negara (PGAS IJ)
BUY / TP: IDR:2,400 (+72.0%)
Analyst: Chandra Pasaribu

Strong rebound
• Better than expected results
• Distribution margin to improve to US$2.24/MMBTU in 2Q21
• Earnings upgrade with new TP of IDR2,400 (US$0.17
• Re-iterate our BUY recommendation