Indo Tambangraya Megah (ITMG) - Solid, yet close to full value

Indo Tambangraya Megah (ITMG) – Initiate with HOLD
Price: Rp49,950 – Target Price: Rp55,600

Solid, yet close to full value

  • Initiate with HOLD, price target Rp55,600/share.
  • Cash rich position.
  • High exposure to coal price movement.
  • Better market perception.
  • Concern on its small reserves.
  • Solid, yet close to full value, Initiate with HOLD