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>We view KLBF’s share price decline over the past 3M (-24%) as unwarranted given its resilient 1H25 core profit of +6% yoy vs. peers -7%.</li><li>KLBF indicates FY25F growth guidance to remain achievable, with our estimates suggesting minimum EPS downgrade risks post-9M25 results.</li><li>We reiterate our Buy rating on KLBF with Rp1,710 DCF-based TP, the stock currently trades at large discount vs. historical.</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>

We view KLBF’s share price decline over the past 3M (-24%) as unwarranted given its resilient 1H25 core profit of +6% yoy vs. peers -7%.KLBF indicates FY25F growth guidance to remain achievable, with our estimates suggesting minimum EPS downgrade risks post-9M25 results.We reiterate our Buy rating on KLBF with Rp1,710 DCF-based TP, the stock currently trades at large discount vs. historical.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.

칼베 파르마(KLBF.IJ) - 폭락한 대형주, 안정적인 IDR로 EPS 하락 위험 제한

Kalbe Farma

칼베 파르마(KLBF.IJ) - 폭락한 대형주, 안정적인 IDR로 EPS 하락 위험 제한