Sumber Alfaria Trijaya (AMRT IJ): Growth, resilience, and expansion

Sumber Alfaria Trijaya (AMRT IJ)
BUY / TP: IDR:2,500 (+28.9%)
Analyst: Patrick Agustinus Nugroho

Growth, resilience, and expansion
• Structural dominance in Indonesia’s staples retailing
• Runs a scalable omnichannel growth engine
• Ex-Java expansion is the key to its long-term growth
• We initiate our recommendation of Buy with a TP of IDR2,500 (US$0.15)