TLKM Indonesia (TLKM IJ): Sees inflection in 3Q25

TLKM Indonesia (TLKM IJ)
BUY / TP: IDR:3,990 (+14.0%)
Analyst: Chandra Pasaribu

Sees inflection in 3Q25
• Below expectations, but recovering QoQ
• Operational numbers gain
• Strategic initiatives re-iterated
• Our TP of IDR3,990 is rolled over to FY2026 – Re-iterate BUY