United Tractors (UNTR.IJ) Stronger 2H26 Momentum with RKAB Revision Tailwinds
United Tractors (UNTR IJ) Stronger 2H26 Momentum with RKAB Revision Tailwinds. Jul26 operations improved, led by PAMA coal production +10% mom and...
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United Tractors (UNTR.IJ) Valuation Priced for FY26 Transition Year;
We think valuation already reflects a weak FY26, while the RKAB scenario remains plausible. Soft operational trend persisted, but still with...
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Macro Strategy: The Fed Tightens: Can BI Hold the Line?
The Fed Tightens: Can BI Hold the Line? The curve prices in another hike, but historical patterns suggest a more measured yield adjustment than in...
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United Tractors UNTR.IJ - FY26: A Transition Year
Maintain Buy with lower TP of Rp30.6k, as we cut FY26-28F est. by 4.9%-44.1%; intact FCF to support dividend payout and buybacks.
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United Tractors (UNTR.IJ): Upside from Gold Valuation, Despite a Potentially Softer 3Q25
We expect UNTR to book softer 3Q25 earnings on lower Komatsu sales and coal price, though 9M25 should still fall broadly in-line.
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