Analisa Saham DOID | 5 April 2018

Analisa Saham DOID

FR CIMB (YU) : Delta Dunia Makmur | PDF
Still more value to unearth
DOID IJ / DOID.JK | ADD - Maintained | Rp960.00 tp:Rp1,420.00▲
Mkt.Cap:US$596.60m | Avg.Daily Vol:US$4.56m | Free Float:53.30%
Ind Goods & Services
Author(s):Erindra KRISNAWAN, CFA +62 (21) 30061732, Felica TRENSENO

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■ An increase in BUMA’s order book to US$6bn from new projects raises visibility.
■ Steady coal price outlook should continue to benefit BUMA, given its capacity to grow.
■ Margin outlook is stable but cost inflation is a potential threat.
■ We lower our FY18-19F EPS forecasts to reflect lower volume assumptions on weather risk and slower 2M18 deliveries.
■ Maintain Add with a higher DCF-based TP of Rp1,420.