External broker reports(aggregated public sources), BRI Danareksa Research

BRI Danareksa Research

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor.

Equity Bottom-Up

<ul><li>MIDI’s operational performance indicates improvement, with SSSG turning positive at end-FY25 and reaching mid-single digit in early Jan26.</li><li>We adjusted down SSSG &amp; store expansion assumptions, but still expect MIDI to deliver solid +9.4% rev &amp; +16.8% earnings growth in FY26F.</li><li>We reiterate Buy rating with an unchanged TP of Rp550; current 14.1x FY26F PE is attractive given the potential growth prospects.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

MIDI’s operational performance indicates improvement, with SSSG turning positive at end-FY25 and reaching mid-single digit in early Jan26.We adjusted down SSSG &amp; store expansion assumptions, but still expect MIDI to deliver solid +9.4% rev &amp; +16.8% earnings growth in FY26F.We reiterate Buy rating with an unchanged TP of Rp550; current 14.1x FY26F PE is attractive given the potential growth prospects.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Midi Utama Indonesia (MIDI.IJ Rp354) - 2025年第4四半期および2026年1月も事業回復が続く