United Tractors - Lifting Our FY24-26F Forecast and TP Post 1H24 Beat; Upgrade Rating to Buy
We raised our FY24-26F est. by 13-22% and SOTP-based TP to Rp29,200 on the better operational and coal price outlook. We upgrade our rating to Buy...
235 Views
United Tractors - In-Line FY23 Net Profit
We maintain our FY24-25F est. and Hold rating with unchanged SOTPbased TP of Rp24,900 amid our view of further coal price correction.
354 Views
United Tractors - Expect Earnings Peak in FY23 on Softer FY24 Outlook
We reinstate our coverage with a HOLD rating and DCF-based TP of Rp24,900.During the management call with analysts, UNTR unveiled a soft set of...
480 Views
Coal Mining - A Tactical Opportunity in 4Q23 on Possible Seasonal Demand Recovery
Coal market’s Aug23 trade and inventory data in China and India indicated possible seasonal demand recovery may be under way.
403 Views
Macro Strategy & Flows Trackers: More Signals
The main takeaways from the most recent Fed Beige Book suggest moderating economic growth in recent months, implying a Fed pause.
452 Views