Telkom Indonesia (TLKM IJ): Wins in data canceled out

Telkom Indonesia (TLKM IJ)
BUY / TP: IDR:4,070 (+37.0%)
Analyst: Chandra Pasaribu

Wins in data canceled out
• Ongoing transition of Voice and SMS
• Indihome growth negated by decline in enterprise
• Capex and debt at comfortable levels
• Re-iterate BUY