External broker reports(aggregated public sources), BRI Danareksa Research

BRI Danareksa Research

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor.

Equity Bottom-Up

<ul><li>KLBF foresees better margins in 4Q23 and 2024, supported by the nutritional division (4Q23) and a favorable product mix (2024).</li><li>Additionally, the prolonged dry and hot weather has boosted patient traffic at hospitals and in turn leads to higher demand for pharma and OTC products.</li><li>KLBF currently trades at an attractive FY24F PE of 22.5x (15% discount to its avg 5-year). </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

KLBF foresees better margins in 4Q23 and 2024, supported by the nutritional division (4Q23) and a favorable product mix (2024).Additionally, the prolonged dry and hot weather has boosted patient traffic at hospitals and in turn leads to higher demand for pharma and OTC products.KLBF currently trades at an attractive FY24F PE of 22.5x (15% discount to its avg 5-year). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Kalbe Farma (KLBF IJ) - Better Outlook Amid Potential 4Q23 Improved Margin