XL Axiata - Merger Plan to Offer Upside; Reiterate Buy Rating as We See Deal Risks to Be Manageable
We believe the planned MergeCo to generate better consumer experience and thus, expect value accretion potentials from the deal.
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BRIDS Weekly Update Economic & Fixed Income Research - Monday, May 13 , 2024
The US Treasury's 10-year yield fluctuated, initially dropping from 4.50% on May 3, 2024, to 4.45% on May 9, 2024, before rebounding to 4.50% on...
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Kalbe Farma - Resilient Growth Outlook at Reasonable Valuation
Unbranded Generic and distribution to drive FY24F top line, while CH and Nutrition revenue normalized. We raised FY24-25F NP by 4.5-2.9%
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Bank Syariah Indonesia (BRIS IJ) - Better Entry Point Emerges...
BRIS’ more resilient profile remains intact with a lower CoF from higher SA and a high payroll loans segment to support asset quality.
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Astra International - Lowering FY24-25F Est. And TP Amid Weaker Auto Sales Outlook
4M24 2W sales reached 2.1m units (-1% yoy; inline), while 4W wholesales remained weak at 263k units (-23% yoy, below our f’cast)
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