Astra International (ASII IJ): Diversification protects its resiliency

Astra International (ASII IJ)
BUY / TP: IDR:6,200 (+22.8%)
Analyst: Alditya Galih Ramadhan

Diversification protects its resiliency
• Flat results as expected
• FS cushions lackluster auto market
• What lies ahead: potential growth from small subs
• Dividend charm continues amid shift – Re-iterate BUY