XL Smart (EXCL IJ): Positive outcome post-merger

XL Smart (EXCL IJ)
BUY / TP: IDR:3,400 (+17.6%)
Analyst: Chandra Pasaribu

Positive outcome post-merger
• Impacted from consolidation
• Focus on quality and synergy creation
• Upgrade in forecast – New TP is IDR3,400
• Upgrade TP to IDR3,400 – Upgrade to BUY