Surabhi Chopra

Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/6061" target="_blank" data-smartkarma-citation="entities:6061:1">Adaro Energy Tbk Pt (ADRO IJ)</a> has a market capitalization of US$4.2 billion and is trading at PE 2018 of 9.4x vs peers at 11x, EV/EBITDA of 4.3x vs 6.6x for peers in 2018, based on consensus estimates. Note that excluding Indonesia peers, the average trading multiples are higher at 11.9x and 7.3x respectively, mainly because the Indonesia coal stocks have corrected recently on the back of possible new domestic coal pricing rules. New Indonesian coal miner shares tumble on possible new pricing…

Adaro Energy Tbk Pt (ADRO IJ) has a market capitalization of US$4.2 billion and is trading at PE 2018 of 9.4x vs peers at 11x, EV/EBITDA of 4.3x vs 6.6x for peers in 2018, based on consensus estimates. Note that excluding Indonesia peers, the average trading multiples are higher at 11.9x and 7.3x respectively, mainly because the Indonesia coal stocks have corrected recently on the back of possible new domestic coal pricing rules. New Indonesian coal miner shares tumble on possible new pricing…

Adaro Energy: Possible New Pricing Regulation to Hurt Earnings, but We Maintain Buy on Valuation