Sarana Menara Nusantara (TOWR IJ): Playing the long game

Sarana Menara Nusantara (TOWR IJ)
BUY / TP: IDR:810 (+39.7%)
Analyst: Chandra Pasaribu

Playing the long game
• Steady revenue expectation
• Rights issue in progress
• Continues to explore inorganic growth
• Re-iterate BUY – Placed to overcome consolidation hurdle