Andrey Wijaya - RHB Sekuritas
Mutiara Nita - RHB Sekuritas
♦ Maintain BUY with Street high-end IDR9,500 TP, 17% upside with 4% FY19F yield on a more promising outlook from new models which should boost Astra’s 4W sales.
♦ Yesterday, Astra launched the Avanza and Veloz new facelifted models, with upgraded exteriors and interiors.
♦ While the Avanza will likely be targeted towards corporate clients, the Veloz and Rush are likely more for personal use.
♦ Astra has also just launched a new Camry version, featuring a sportier model, to strengthen its position in the premium segment.
♦ Risks to our call include competition from new 4W models and lower coal prices, which may negatively impact heavy equipment (Komatsu) sales.
Details is on report: https://research.rhbtradesmart.com/attachments/45/rhb-report-ind_astra-international_company-update_20190116_rhb-51489021479697325c3e5aea6ada7.pdf
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