Summarecon Agung (SMRA IJ): On the path to recovery

Summarecon Agung (SMRA IJ)
Analyst: Chelene Indriani
HOLD-OPF / TP: IDR1,200 (+1.7%)
On the path to recovery
• Initiate coverage with HOLD-OPF and TP of IDR1,200
• Aiming at low-middle segment with diversification outside Greater Jakarta
• Strengthening recurring income
• No immediate deleveraging