Berita investasi, saham, reksadana dan perencanaan keuangan
25 January 2018
Evening Update
BEI
1 year
1 day
1 year
1 day
H-1
4,768.2
6,872.1
776.6
910.3
4,934.4
YTD
enutupan
1 year
1 day
1 year
1 day
2.9%
4.7%
3.6%
4.2%
2.8%
5.2%
1.5%
6.4%
5.3%
enutupan
YTD
1.0%
1.4%
2.4%
6.2%
1.7%
7.5%
5.1%
1.2%
2.1%
2.8%
2.4%
7.7%
3.7%
IDR
chg
1.82%
4.48%
1.56%
rate
est
chg
1.76%
0.00%
1.56%
rate
Interest
7.68
0.24
0.06
0.05
Ret 1
1 day
7.67
0.24
0.05
0.05
terest Call
enutupan
4.9%
0.7%
0.7%
0.3%
2.0%
0.3%
1.0%
0.0%
0.7%
0.7%
0.1%
Equity | Indonesia | Research Daily
YTD
4.2%
4.3%
5.4%
1.1%
2.9%
3.9%
2.8%
5.5%
2.0%
YTD
2.2%
1.6%
1.6%
7.7%
1.8%
4.7%
3.5%
2.8%
7.7%
0.9%
0.8%
8.5%
4.0%
IDR
st
nutupan
Indonesia Market Wrap
BEI
H-1
4,704.8
4,715.9
605.5
494.4
5,006.4
nutupan
nutupan
nterest
rest Call
.globalcoal.com
Ret 1
1 day
2.4%
0.3%
0.9%
0.3%
1.5%
0.8%
1.0%
0.0%
0.7%
2.1%
2.2%
w.globalcoal.c
Items
Nilai transaksi (Rp miliar)
Volume transaksi (jt shm)
Net asing (Rp miliar)
Net asing (jt shm)
Kapitalisasi pasar (Rp tn)
Avg 2016
5,296.5
4,957.8
65.7
-150.6
5,376.3
T erakhir
8,533.0
8,547.0
574.3
19.7
7,182.2
H-1
8,781.3
7,490.5
-288.6
-51.9
7,036.3
1 day
return
YT D
return
Sektoral
Index
Penutupan
1 year
return
1,645
715
2,978
1,173
1,171
1,445
1,948
529
957
-12.8%
31.3%
25.1%
47.3%
12.3%
7.6%
40.3%
2.0%
10.8%
Penutupan
1 year
return
6,615
3,609
1,837
1,839
2,538
36,162
32,959
23,941
6,169
83,680
26,252
3,261
7,643
25.0%
18.7%
9.1%
16.1%
22.8%
30.5%
43.0%
25.6%
7.7%
27.1%
30.8%
7.4%
6.7%
Agri
Basic Industry
Consumer
Finance
Infrastucture
Misc. Industry
Mining
Property
Trade
0.0%
0.0%
-1.7%
-0.3%
-1.3%
2.0%
0.9%
2.5%
0.1%
1.8%
3.7%
4.1%
2.8%
-1.1%
4.6%
22.2%
6.8%
3.8%
Indeks Saham
Index
Negara
JCI
FSSTI
KLCI
SET
KOSPI
SENSEX
HSI
NKY
AS30
IBOV
DJI
SX5P
UKX
Indonesia
Singapura
Malaysia
Thailand
Korsel
India
Hongkong
Jepang
Australia
Brasil
Amerika
Eropa
Inggris
1 day
return
Pada perdagangan hari ini indeks harga saham gabungan bergerak melemah
di sepanjang perdagangan merespon sentimen dari bursa global dan regional
serta posisi indeks yang berada di area jenuh beli membuat investor
cenderung melanjutkan aksi ambil untung. Sementara itu, kenaikan harga
komoditas mampu mencegah penurunan indeks hingga akhir sesi. IHSG
ditutup flat -0,16 poin (-0,00%) di level 6.615. Sektor industri dasar dan
pertambangan yang masing-masing menguat +30 poin (+4,30%) dan +45
poin (+2,32%) menjadi penahan daya tekan indeks hari ini. Sementara itu,
nilai tukar rupiah diperdagangkan menguat +25 poin (+0,19%) di level
13.289.
Sementara
itu,
investor
asing
mencatatkan
jual
bersih
(foreign net sell) sebesar 72,4B di pasar reguler.
YT D
return
-0.3%
0.5%
-0.1%
0.4%
0.1%
0.1%
0.1%
-0.8%
0.3%
3.7%
0.2%
-0.4%
-1.1%
4.1%
6.1%
2.2%
4.9%
3.2%
6.2%
10.2%
4.4%
-0.1%
9.5%
6.2%
2.6%
-0.6%
Top Gainer
Ticker
Top Loser
Last (Rp) Change(+)
Ticker
Last (Rp) Change(-)
TPIA
6.475
975
GGRM
84.500
775
ITMG
30.325
575
UNVR
55.025
575
SMGR
11.100
375
LINK
5.500
375
HRUM
INDY
3.410
4.530
310
290
TOBA
JSMR
2.270
5.700
330
250
Source : IPOT
Dual Listing (US$)
TLKM
TINS
ANTM
*Rp/US$
Closing
US$
30.23
0.061
0.033
13,331
IDR
2,015.0
809.7
446.2
+/-
Daily
% chg
-1.98%
-5.77%
-3.57%
-0.61
0.00
0.00
Suku Bunga & Inflasi
Items
Deposito IDR 3 bln
Kredit Bank IDR
BI 7-Days RR
Fed Funds Target
ECB Main Refinancing
Domestic Yen Interest Call
Latest
Interest
Inflation
5.72
14.02
4.25%
3.61%
1.50
2.10%
1.40%
(0.04)
0.60%
Real interest rate
0.01
1.48
(0.01)
(0.04)
Top Foreign Buy
Ticker
Penutupan Ret 1 year
(%)
65.7
646.1
1.75
13,540
21,300
1,358.5
107.0
146.5
3.3
9.7
7,111.0
25.1%
-19.9%
-40.6%
39.0%
4.6%
13.1%
27.7%
-7.0%
-4.3%
-6.7%
20.0%
+/1.2
6.9
0.0
729.5
475.0
17.3
0.5
8.1
0.1
0.1
228.5
Top Foreign Sell
NBLot
Ticker
NSVal (B)
NSLot
BMRI
74,1
90.936
BBRI
215,0
569.182
SMGR
57,7
52.256
TLKM
189,1
478.148
BUMI
54,6
1.700.000
PGAS
61,7
235.591
PTBA
52,9
158.182
UNTR
38,3
9.575
BBNI
46,7
48.240
JSMR
34,0
58.548
Source : IPOT
Harga Komoditas
dlm US$
(in USD)
Minyak WTI / bbl
CPO/ ton
Karet/ kg
Nikel/ ton
Timah/ ton
Emas/tr. oz
Batu Bara/ ton
Tepung Terigu/ ton
Jagung/bushel
Kedelai
Tembaga
NBVal (B)
Ret 1 day
(%)
1.84%
1.08%
1.57%
5.69%
2.28%
1.29%
0.42%
5.84%
1.84%
0.91%
3.32%
Sumber : Bloomberg
Refer to Important disclosures on the last of this report
Emiten
T icker
Recommendation
Automotive :
Astra International
Mitra Pinasthika Mustika
Selamat Sempurna
ASII
MPMX
SMSM
BUY
BUY
BUY
Banks :
Bank Mandiri
Bank Rakyat Indonesia
Bank Central Asia
Bank Negara Indonesia
Bank Danamon
Bank Tabungan Negara
BMRI
BBRI
BBCA
BBNI
BDMN
BBTN
Cement :
Indocement Tunggal Prakarsa
Semen Baturaja
Semen Indonesia
Current price
T arget Price
Upside (+)/Downside (-)
8,725
860
1,330
9,800
1,080
1,500
12.32%
25.58%
12.78%
BUY
HOLD
HOLD
BUY
HOLD
HOLD
8,250
3,830
22,575
9,725
7,050
3,680
7,750
16,000
18,500
8,500
4,800
3,200
-6.06%
317.75%
-18.05%
-12.60%
-31.91%
-13.04%
INTP
SMBR
SMGR
SELL
SELL
HOLD
21,375
3,180
10,725
19,800
375
11,500
-7.37%
-88.21%
7.23%
Construction :
Adhi Karya
Pembangunan Perumahan
Waskita Karya
Wijaya Karya
Wijaya Karya Beton
Waskita Karya Beton
ADHI
PTPP
WSKT
WIKA
WTON
WSBP
BUY
BUY
BUY
BUY
BUY
BUY
2,320
3,210
2,790
2,080
595
448
2,500
4,700
3,100
2,900
810
620
7.76%
46.42%
11.11%
39.42%
36.13%
38.39%
Consumer :
Indofood CBP
Indofood Sukses Makmur
Unilever Indonesia
Nippon Indosari Corpindo
ICBP
INDF
UNVR
ROTI
HOLD
BUY
HOLD
HOLD
8,850
8,075
55,600
1,235
9,300
9,700
46,600
1,200
5.08%
20.12%
-16.19%
-2.83%
Healtcare :
Kalbe Farma
Siloam International Hospitals
Mitra Keluarga Karyasehat
KLBF
SILO
MIKA
HOLD
HOLD
HOLD
1,725
9,000
1,900
1,850
10,800
2,400
7.25%
20.00%
26.32%
JSMR
PGAS
POWR
BUY
HOLD
BUY
5,950
2,690
1,245
6,125
1,840
1,580
2.94%
-31.60%
26.91%
Plantation :
Astra Agro Lestari
PP London Sumatera
Salim Invomas
Bisi International
AALI
LSIP
SIMP
BISI
BUY
BUY
HOLD
BUY
13,075
1,365
505
1,720
18,500
1,900
520
2,100
41.49%
39.19%
2.97%
22.09%
Property :
Agung Podomoroland
Alam Sutera realty
Bumi Serpong Damai
Ciputra Development
Lippo Karawaci
Summarecon Agung
APLN
ASRI
BSDE
CTRA
LPKR
SMRA
BUY
BUY
BUY
BUY
BUY
BUY
226
390
1,735
1,240
510
1,050
420
420
2,400
1,355
1,420
1,340
85.84%
7.69%
38.33%
9.27%
178.43%
27.62%
T elecommunication :
Indosat
Telkom Indonesia
XL Axiata
ISAT
TLKM
EXCL
BUY
BUY
BUY
5,800
3,980
3,090
7,200
5,120
4,670
24.14%
28.64%
51.13%
T elecommunication T ower :
Sarana Menara Nusantara
Tower Bersama
TOWR
TBIG
HOLD
HOLD
3,940
6,375
4,550
6,400
15.48%
0.39%
Mining :
Adaro Energy
Tambang Batubara Bukit Asam
Indo Tambangraya Megah
United Tractors
Vale Indonesia
Medco Energi Internasional
ADRO
PTBA
ITMG
UNTR
INCO
MEDC
BUY
BUY
HOLD
BUY
BUY
HOLD
2,440
3,330
29,750
40,000
3,430
1,265
2,700
14,000
17,000
40,000
3,400
1,000
10.66%
320.42%
-42.86%
0.00%
-0.87%
-20.95%
Retail :
Ace Hardware Indonesia
ACES
BUY
1,280
1,450
13.28%
Industrial Estate :
Surya Semesta Internusa
Pura Delta Lestari
Bekasi Fadjar
Multi Pinasthika
Jaya Real Property
SSIA
DMAS
BEST
MMLP
JRPT
BUY
BUY
BUY
BUY
BUY
530
186
282
590
885
825
270
380
655
1,350
55.66%
45.16%
34.75%
11.02%
52.54%
Infrastructure :
Jasa Marga
Perusahaan Gas Negara
Cikarang Listrindo
sourc e : Fundamental IPOT
Head Office
PT INDO PREMIER SEKURITAS
Wisma GKBI 7/F Suite 718
Jl. Jend. Sudirman No.28
Jakarta 10210 – Indonesia
p +62.21.5793.1168
f +62.21.5793.1167
INVESTMENT RATINGS
BUY
: Expected total return of 10% or more within a 12-month period
HOLD
: Expected total return between -10% and 10% within a 12-month period
SELL
: Expected total return of -10% or worse within a 12-month period
ANALYSTS CERTIFICATION.
The views expressed in this research report accurately reflect the analyst;s personal views about any and all of the subject securities or issuers; and no part of the
research analyst's compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in the report.
DISCLAIMERS
This reserch is based on information obtained from sources believed to be reliable, but we do not make any representation or warraty nor accept any
responsibility or liability as to its accruracy, completeness or correctness. Opinions expressed are subject to change without notice. This document is prepared for
general circulation. Any recommendations contained in this document does not have regard to the specific investment objectives, finacial situation and the
particular needs of any specific addressee. This document is not and should not be construed as an offer or a solicitation of an offer to purchase or subscribe or
sell any securities. PT. Indo Premier Sekuritas or its affiliates may seek or will seek investment banking or other business relationships with the companies in this
report.
Evening Update
BEI
1 year
1 day
1 year
1 day
H-1
4,768.2
6,872.1
776.6
910.3
4,934.4
YTD
enutupan
1 year
1 day
1 year
1 day
2.9%
4.7%
3.6%
4.2%
2.8%
5.2%
1.5%
6.4%
5.3%
enutupan
YTD
1.0%
1.4%
2.4%
6.2%
1.7%
7.5%
5.1%
1.2%
2.1%
2.8%
2.4%
7.7%
3.7%
IDR
chg
1.82%
4.48%
1.56%
rate
est
chg
1.76%
0.00%
1.56%
rate
Interest
7.68
0.24
0.06
0.05
Ret 1
1 day
7.67
0.24
0.05
0.05
terest Call
enutupan
4.9%
0.7%
0.7%
0.3%
2.0%
0.3%
1.0%
0.0%
0.7%
0.7%
0.1%
Equity | Indonesia | Research Daily
YTD
4.2%
4.3%
5.4%
1.1%
2.9%
3.9%
2.8%
5.5%
2.0%
YTD
2.2%
1.6%
1.6%
7.7%
1.8%
4.7%
3.5%
2.8%
7.7%
0.9%
0.8%
8.5%
4.0%
IDR
st
nutupan
Indonesia Market Wrap
BEI
H-1
4,704.8
4,715.9
605.5
494.4
5,006.4
nutupan
nutupan
nterest
rest Call
.globalcoal.com
Ret 1
1 day
2.4%
0.3%
0.9%
0.3%
1.5%
0.8%
1.0%
0.0%
0.7%
2.1%
2.2%
w.globalcoal.c
Items
Nilai transaksi (Rp miliar)
Volume transaksi (jt shm)
Net asing (Rp miliar)
Net asing (jt shm)
Kapitalisasi pasar (Rp tn)
Avg 2016
5,296.5
4,957.8
65.7
-150.6
5,376.3
T erakhir
8,533.0
8,547.0
574.3
19.7
7,182.2
H-1
8,781.3
7,490.5
-288.6
-51.9
7,036.3
1 day
return
YT D
return
Sektoral
Index
Penutupan
1 year
return
1,645
715
2,978
1,173
1,171
1,445
1,948
529
957
-12.8%
31.3%
25.1%
47.3%
12.3%
7.6%
40.3%
2.0%
10.8%
Penutupan
1 year
return
6,615
3,609
1,837
1,839
2,538
36,162
32,959
23,941
6,169
83,680
26,252
3,261
7,643
25.0%
18.7%
9.1%
16.1%
22.8%
30.5%
43.0%
25.6%
7.7%
27.1%
30.8%
7.4%
6.7%
Agri
Basic Industry
Consumer
Finance
Infrastucture
Misc. Industry
Mining
Property
Trade
0.0%
0.0%
-1.7%
-0.3%
-1.3%
2.0%
0.9%
2.5%
0.1%
1.8%
3.7%
4.1%
2.8%
-1.1%
4.6%
22.2%
6.8%
3.8%
Indeks Saham
Index
Negara
JCI
FSSTI
KLCI
SET
KOSPI
SENSEX
HSI
NKY
AS30
IBOV
DJI
SX5P
UKX
Indonesia
Singapura
Malaysia
Thailand
Korsel
India
Hongkong
Jepang
Australia
Brasil
Amerika
Eropa
Inggris
1 day
return
Pada perdagangan hari ini indeks harga saham gabungan bergerak melemah
di sepanjang perdagangan merespon sentimen dari bursa global dan regional
serta posisi indeks yang berada di area jenuh beli membuat investor
cenderung melanjutkan aksi ambil untung. Sementara itu, kenaikan harga
komoditas mampu mencegah penurunan indeks hingga akhir sesi. IHSG
ditutup flat -0,16 poin (-0,00%) di level 6.615. Sektor industri dasar dan
pertambangan yang masing-masing menguat +30 poin (+4,30%) dan +45
poin (+2,32%) menjadi penahan daya tekan indeks hari ini. Sementara itu,
nilai tukar rupiah diperdagangkan menguat +25 poin (+0,19%) di level
13.289.
Sementara
itu,
investor
asing
mencatatkan
jual
bersih
(foreign net sell) sebesar 72,4B di pasar reguler.
YT D
return
-0.3%
0.5%
-0.1%
0.4%
0.1%
0.1%
0.1%
-0.8%
0.3%
3.7%
0.2%
-0.4%
-1.1%
4.1%
6.1%
2.2%
4.9%
3.2%
6.2%
10.2%
4.4%
-0.1%
9.5%
6.2%
2.6%
-0.6%
Top Gainer
Ticker
Top Loser
Last (Rp) Change(+)
Ticker
Last (Rp) Change(-)
TPIA
6.475
975
GGRM
84.500
775
ITMG
30.325
575
UNVR
55.025
575
SMGR
11.100
375
LINK
5.500
375
HRUM
INDY
3.410
4.530
310
290
TOBA
JSMR
2.270
5.700
330
250
Source : IPOT
Dual Listing (US$)
TLKM
TINS
ANTM
*Rp/US$
Closing
US$
30.23
0.061
0.033
13,331
IDR
2,015.0
809.7
446.2
+/-
Daily
% chg
-1.98%
-5.77%
-3.57%
-0.61
0.00
0.00
Suku Bunga & Inflasi
Items
Deposito IDR 3 bln
Kredit Bank IDR
BI 7-Days RR
Fed Funds Target
ECB Main Refinancing
Domestic Yen Interest Call
Latest
Interest
Inflation
5.72
14.02
4.25%
3.61%
1.50
2.10%
1.40%
(0.04)
0.60%
Real interest rate
0.01
1.48
(0.01)
(0.04)
Top Foreign Buy
Ticker
Penutupan Ret 1 year
(%)
65.7
646.1
1.75
13,540
21,300
1,358.5
107.0
146.5
3.3
9.7
7,111.0
25.1%
-19.9%
-40.6%
39.0%
4.6%
13.1%
27.7%
-7.0%
-4.3%
-6.7%
20.0%
+/1.2
6.9
0.0
729.5
475.0
17.3
0.5
8.1
0.1
0.1
228.5
Top Foreign Sell
NBLot
Ticker
NSVal (B)
NSLot
BMRI
74,1
90.936
BBRI
215,0
569.182
SMGR
57,7
52.256
TLKM
189,1
478.148
BUMI
54,6
1.700.000
PGAS
61,7
235.591
PTBA
52,9
158.182
UNTR
38,3
9.575
BBNI
46,7
48.240
JSMR
34,0
58.548
Source : IPOT
Harga Komoditas
dlm US$
(in USD)
Minyak WTI / bbl
CPO/ ton
Karet/ kg
Nikel/ ton
Timah/ ton
Emas/tr. oz
Batu Bara/ ton
Tepung Terigu/ ton
Jagung/bushel
Kedelai
Tembaga
NBVal (B)
Ret 1 day
(%)
1.84%
1.08%
1.57%
5.69%
2.28%
1.29%
0.42%
5.84%
1.84%
0.91%
3.32%
Sumber : Bloomberg
Refer to Important disclosures on the last of this report
Emiten
T icker
Recommendation
Automotive :
Astra International
Mitra Pinasthika Mustika
Selamat Sempurna
ASII
MPMX
SMSM
BUY
BUY
BUY
Banks :
Bank Mandiri
Bank Rakyat Indonesia
Bank Central Asia
Bank Negara Indonesia
Bank Danamon
Bank Tabungan Negara
BMRI
BBRI
BBCA
BBNI
BDMN
BBTN
Cement :
Indocement Tunggal Prakarsa
Semen Baturaja
Semen Indonesia
Current price
T arget Price
Upside (+)/Downside (-)
8,725
860
1,330
9,800
1,080
1,500
12.32%
25.58%
12.78%
BUY
HOLD
HOLD
BUY
HOLD
HOLD
8,250
3,830
22,575
9,725
7,050
3,680
7,750
16,000
18,500
8,500
4,800
3,200
-6.06%
317.75%
-18.05%
-12.60%
-31.91%
-13.04%
INTP
SMBR
SMGR
SELL
SELL
HOLD
21,375
3,180
10,725
19,800
375
11,500
-7.37%
-88.21%
7.23%
Construction :
Adhi Karya
Pembangunan Perumahan
Waskita Karya
Wijaya Karya
Wijaya Karya Beton
Waskita Karya Beton
ADHI
PTPP
WSKT
WIKA
WTON
WSBP
BUY
BUY
BUY
BUY
BUY
BUY
2,320
3,210
2,790
2,080
595
448
2,500
4,700
3,100
2,900
810
620
7.76%
46.42%
11.11%
39.42%
36.13%
38.39%
Consumer :
Indofood CBP
Indofood Sukses Makmur
Unilever Indonesia
Nippon Indosari Corpindo
ICBP
INDF
UNVR
ROTI
HOLD
BUY
HOLD
HOLD
8,850
8,075
55,600
1,235
9,300
9,700
46,600
1,200
5.08%
20.12%
-16.19%
-2.83%
Healtcare :
Kalbe Farma
Siloam International Hospitals
Mitra Keluarga Karyasehat
KLBF
SILO
MIKA
HOLD
HOLD
HOLD
1,725
9,000
1,900
1,850
10,800
2,400
7.25%
20.00%
26.32%
JSMR
PGAS
POWR
BUY
HOLD
BUY
5,950
2,690
1,245
6,125
1,840
1,580
2.94%
-31.60%
26.91%
Plantation :
Astra Agro Lestari
PP London Sumatera
Salim Invomas
Bisi International
AALI
LSIP
SIMP
BISI
BUY
BUY
HOLD
BUY
13,075
1,365
505
1,720
18,500
1,900
520
2,100
41.49%
39.19%
2.97%
22.09%
Property :
Agung Podomoroland
Alam Sutera realty
Bumi Serpong Damai
Ciputra Development
Lippo Karawaci
Summarecon Agung
APLN
ASRI
BSDE
CTRA
LPKR
SMRA
BUY
BUY
BUY
BUY
BUY
BUY
226
390
1,735
1,240
510
1,050
420
420
2,400
1,355
1,420
1,340
85.84%
7.69%
38.33%
9.27%
178.43%
27.62%
T elecommunication :
Indosat
Telkom Indonesia
XL Axiata
ISAT
TLKM
EXCL
BUY
BUY
BUY
5,800
3,980
3,090
7,200
5,120
4,670
24.14%
28.64%
51.13%
T elecommunication T ower :
Sarana Menara Nusantara
Tower Bersama
TOWR
TBIG
HOLD
HOLD
3,940
6,375
4,550
6,400
15.48%
0.39%
Mining :
Adaro Energy
Tambang Batubara Bukit Asam
Indo Tambangraya Megah
United Tractors
Vale Indonesia
Medco Energi Internasional
ADRO
PTBA
ITMG
UNTR
INCO
MEDC
BUY
BUY
HOLD
BUY
BUY
HOLD
2,440
3,330
29,750
40,000
3,430
1,265
2,700
14,000
17,000
40,000
3,400
1,000
10.66%
320.42%
-42.86%
0.00%
-0.87%
-20.95%
Retail :
Ace Hardware Indonesia
ACES
BUY
1,280
1,450
13.28%
Industrial Estate :
Surya Semesta Internusa
Pura Delta Lestari
Bekasi Fadjar
Multi Pinasthika
Jaya Real Property
SSIA
DMAS
BEST
MMLP
JRPT
BUY
BUY
BUY
BUY
BUY
530
186
282
590
885
825
270
380
655
1,350
55.66%
45.16%
34.75%
11.02%
52.54%
Infrastructure :
Jasa Marga
Perusahaan Gas Negara
Cikarang Listrindo
sourc e : Fundamental IPOT
Head Office
PT INDO PREMIER SEKURITAS
Wisma GKBI 7/F Suite 718
Jl. Jend. Sudirman No.28
Jakarta 10210 – Indonesia
p +62.21.5793.1168
f +62.21.5793.1167
INVESTMENT RATINGS
BUY
: Expected total return of 10% or more within a 12-month period
HOLD
: Expected total return between -10% and 10% within a 12-month period
SELL
: Expected total return of -10% or worse within a 12-month period
ANALYSTS CERTIFICATION.
The views expressed in this research report accurately reflect the analyst;s personal views about any and all of the subject securities or issuers; and no part of the
research analyst's compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in the report.
DISCLAIMERS
This reserch is based on information obtained from sources believed to be reliable, but we do not make any representation or warraty nor accept any
responsibility or liability as to its accruracy, completeness or correctness. Opinions expressed are subject to change without notice. This document is prepared for
general circulation. Any recommendations contained in this document does not have regard to the specific investment objectives, finacial situation and the
particular needs of any specific addressee. This document is not and should not be construed as an offer or a solicitation of an offer to purchase or subscribe or
sell any securities. PT. Indo Premier Sekuritas or its affiliates may seek or will seek investment banking or other business relationships with the companies in this
report.