Erajaya Swasembada (ERAA IJ): Improvement from new segment

Erajaya Swasembada (ERAA IJ)
BUY / TP: IDR:570 (+28.4%)
Analyst: Chandra Pasaribu

Improvement from new segment
• Above expectation from fast growth in new segment
• Strong contribution from handset and new business
• Upgrade in earnings leads to higher TP of IDR570
• Maintaining BUY recommendation with new TP of IDR570