BNIS Daily Report of July 21, 2021
SIDO: Best of the Class
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.
- 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 (email@example.com)