United Tractors (UNTR IJ): Softer result from mixed prices

United Tractors (UNTR IJ)
BUY / TP: IDR:31,600 (+26.8%)
Analyst: Chandra Pasaribu

Softer result from mixed prices
• Below of expectation
• Robust operation numbers
• Preserves a conservative balance sheet
• Upgrade to BUY on newly raised TP of IDR31,600