Telkom Indonesia (TLKM IJ): Making the right decisions

Telkom Indonesia (TLKM IJ)
BUY / TP: IDR:3,900 (+41.3%)
Analyst: Chandra Pasaribu

Making the right decisions
• Margin enhancement from operating leverage and re-focus of enterprise segment
• Data growth supporting operating leverage
• Refocus on enterprise segments showing result
• Retain BUY call, despite new lower TP of IDR3,900