Pertamina Geothermal (PGEO IJ): Slight drop in operation

Pertamina Geothermal (PGEO IJ)
BUY / TP: IDR:1,420 (+10.5%)
Analyst: Chandra Pasaribu

Slight drop in operation
• Better than expectation on forex gain
• Slight drop in margins and volume
• Capex remains slow from impending invoice
• Re-iterate BUY with unchanged TP of IDR1,420