0616 GMT - Sumber Alfaria Trijaya deserves a premium valuation, Heng Siong Kong of Nomura and analysts of Verdhana Sekuritas say in a research report as they maintain the stock's buy rating. They cite the Indonesian convenience-store chain operator's robust business model, duopoly market position and resilience in challenging macroeconomic conditions. Nomura expects Sumber Alfaria Trijaya to focus on striking better balance between promotional activities, sales growth and profitability margin this year, though achieving this will likely be challenging for the company given weak consumer purchasing power. The brokerage lowers its target price to IDR2,350.00 from IDR3,600.00 to reflect lower earnings growth assumptions for 2024-2027. Shares are 1.4% higher at IDR1,845.00. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 25, 2025 02:16 ET (06:16 GMT)
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