0243 GMT - Bank Rakyat Indonesia's stock may continue to face selling pressure in the near term, Tushar Mohata from Nomura writes in a note. The bank may face maturing micro/ultra-micro segments in coming years, pointing toward slower future growth, Mohata says, adding that the bank may need to "refocus growth" in corporate and commercial segments for the next three years. Mohata also expects larger write-offs for micro/ultra micro segments through 2026, which likely contributed the substantial selling pressure this year. Nomura retains a buy rating on the stock but trims its target price toIDR5,400 from IDR6,300. Shares are 0.2% higher at IDR 4,220.00. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
December 23, 2024 21:43 ET (02:43 GMT)
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