United Tractors (UNTR IJ): Positive signs from RKAB revision

United Tractors (UNTR IJ)
BUY / TP: IDR:29,700 (+12.6%)
Analyst: Chandra Pasaribu

Positive signs from RKAB revision
• MEMR is likely to upgrade RKAB
• Mining contracting also to benefit
• Risk from El Niño, but could further drive-up prices
• Re-iterate BUY with TP of IDR29,700