Astra International - Possible Earnings Beat, Driven by Strong Financials and Qoq HE Improvement
We expect ASII’s 1H24 auto revenue/OP to decline by -13%/-45%, and financial segment revenue/OP to expand by 12%/18% yoy.
325 Views
Gudang Garam - A Still Challenging Outlook Limits Re-Rating Potential
GGRM’s 6-8% price adjustment YTD may support FY24F margins, but we expect volume may continue to be under pressure. We trim our FY24-25F NP by 42-47%
200 Views
HM Sampoerna (HMSP.IJ Rp 705; HOLD; TP Rp 730) Regulatory Uncertainty Loom over HMSP
HMSP adjusted ASP of its products by 8.4% ytd in Jul24 (vs 1Q24: 6.1% ytd), which continues to weigh on its vol. growth (1Q24: +1.6% yoy).
190 Views
Medco Energi International - Expect 2Q24 Earnings Support from AMMN Amidst Flattish Oil Price
We expect MEDC to book inline 2Q24 earnings, backed by AMMN’s rising contribution on the back of higher volume and ASP. 2H24 outlook: Lower...
200 Views
Ciputra Development - Expect Landed-Residential to Remain a Key Pillar for 2H24 Marketing Sales
CTRA booked resilient 2Q24 pre-sales, supporting 1H24 to form 55/53% of mgmt/our FY24F, with above-expected sales from Serpong Elaia.
159 Views