Merdeka Battery Materials (MBMA IJ): Value enhancement afoot

Merdeka Battery Materials (MBMA IJ)
BUY / TP: IDR:600 (+56.25%)
Analyst: Alditya Galih Ramadhan

Value enhancement afoot
• QoQ improvements in production
• Soft guidance but with more efficient operations
• Diversifications are under way
• We rerate our TP to IDR600