In Riset

BNIS Daily Report of July 21, 2021

 

 

RESEARCH REPORT

SIDO: Best of the Class

 

What’s New?

We reiterate our positive stance on Sidomuncul (SIDO) on expectations of better 2Q21, as well as a solid execution and a ramp-up in its new production lines. Maintain BUY with unchanged TP at IDR890 (pegged at 25.3x FY21 P/E). This gives the counter a 17.1% return from its last price.

 

Key Highlights:

  • Expect strong growth in 2Q21, bringing 6M21 earnings to be in-line with estimates.
  • Jamu Heritage’s presence will boost the F&B segment, in our view.
  • Unchanged TP of IDR890 and reiterate our BUY call.

 

Analyst: William Siregar (william.siregar@bnisekuritas.co.id)

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