Riding on the positive newsflows ADHI IJ / ADHI.JK | TRADING BUY - Trading Call | Share Price Rp1,380.00 - Tgt. Rp1,520.00 Construction | - by Lydia TOISUTA 9M12 results were in line as we expect the bulk of revenue to come in 4Q but earnings growth is limited at this moment given its outstanding provision. However, the lingering balance sheet risk may be removed once the monorail project is restarted. 9M12 core net earnings form 44% of our and market numbers, in line given historical seasonality.
By : Listri Valsa
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