Buy two for the price of one
MAPI IJ / MAPI.JK | ADD - Maintained | Rp990.00 tp:Rp1,250.00▲
Mkt.Cap:US$1,168.00m | Avg.Daily Vol:US$0.92m | Free Float:44.00%
Retail
Author(s): Kevie ADITYA +62 (21) 3006 1738,
We estimate MAPI should post a solid c.8% SSSG in 4Q18F, propelling its FY18F sales by 18% yoy and earnings by 68% yoy.
Specialty stores and deleveraging may drive 20% earnings growth in FY19F.
We find MAPI more attractive than its listed subsidiary MAPA, given MAPA’s lack of liquidity. We maintain our Add call with a higher TP of Rp1,250.
Komentar
Posting Komentar