United Tractors (UNTR IJ): Dragged by weaker coal price

United Tractors (UNTR IJ)
HOLD-OPF / TP: IDR:25,300 (+3.3%)
Analyst: Chandra Pasaribu

Dragged by weaker coal price
• Within expectation
• Operational matrix remains sound
• New contracts and further acquisition
• Downgrade to Hold-OPF with a TP of IDR25,300