XL Smart (EXCL IJ): Early signs of improvement

XL Smart (EXCL IJ)
HOLD-OPF / TP: IDR:3,020 (+9.8%)
Analyst: Chandra Pasaribu

Early signs of improvement
• Full quarter of consolidation
• Focus on quality subs
• Refinement of guidance
• Upgrade TP to IDR3,020 – Re-iterate HOLD-OPF