Bumi Resources Minerals (BRMS) – Initial Coverage with BUY recommendation
Price: Rp690 – Target Price: Rp1,080
The next minerals king
- On the way to become Asia’s non-coal mining leader.
- Diverse minerals portfolio.
- Future earnings growth when assets are commercialized.
- Ability to seek further fundings for expansion.
- Initiating coverage with a BUY recommendation based on global peers Reserves & Resources valuation.
- Using SOTP, we derived target price of Rp1,080 with 56% upside potential. Initiate Coverage with BUY
- BRMS_110718_YY (Revised) (1.9 MiB)