Jasa Marga (JSMR IJ) – Maintain Buy
Price: Rp3,900 – Target Price: Rp4,200
In-line 1H11 Result
- Revenue and net profit grew by 10.7% and 14.7% YoY, relatively in-line within our estimate.
- Traffic volume surged by 36.6% YoY due to payment system adjustment.
- On QoQ basis, revenue and net profit slightly up by 4.3% and 2.2% QoQ.
- Expect for stronger 2H11 performance on higher traffic volume and tariff hike.
- Maintain BUY with Target Price of Rp4,200.
- Jasa Marga (JSMR) 29 July 2011 (208.9 KiB)