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OSODaily 06 Desember 2019
ODAY TOP STOCK TRADED (LQ45) JAKARTA COMPOSITE INDEX
6,152.12 39.24
0.64%
Previous 6,112.88 Lowest
6,131.59 Highest 6,157.93 Val IDR bn
6.919
Volbn 11.238 Mkt Cap IDRtr
7,079.47 Net Forg 1DIDRbn 37.68 Net ForgYTDIDRbn
40,420.18
Return YTD (%) (0.68) Month to date (%)
2.33
Indices
Last Chg% YTD% Americas
Dow Jones United States 27,677.79 0.10 18.65 S&P 500 United States 3,117.43 0.15 24.36 Nasdaq United States 8,570.70 0.05 29.17 EIDO United States 24.93 1.09 0.44 EMEA
FTSE 100 United Kingdom 7,137.85 (0.70) 6.09
CAC 40 France 5,801.55 0.03 22.64 D DAX Germany 13,054.80 (0.65) 23.64
Asia Pacific
Nikkei Japan 23,135.23 0.71 16.41 Shanghai China 2,878.12 0.74 16.26 TWSE Taiwan 11,510.47 0.73 19.20 KOSPI Korea 2,068.89 (0.39) 0.97 KLSE Malaysia 1,560.93 0.17 (7.51) ST – Times Singapore 3,159.79 0.46 3.44 Sensex India 40,850.29 0.04 13.30 Hangseng Hongkong 26,062.56 0.59 1.44
Sectoral Previous Last Chg% YTD% AGRICULTURE 1,396.60 1.83 (10.73) 1,396.60 MINING 1,481.13 1.55 (16.63) 1,481.13 MISC INDUSTRY 1,190.35 1.91 (14.63) 1,190.35 BASIC INDUSTRY 968.48 1.18 13.31 968.48 CONSUMER GOODS 2,035.58 (0.33) (20.77) 2,035.58 PROPERTY 499.79 0.65 11.62 499.79 INFRASTRUKTUR 1,139.43 0.90 7.06 1,139.43 FINANCE 1,294.83 0.59 10.14 1,294.83 MANUFAKTURE 1,443.48 0.52 (10.79) 1,443.48 TRADE 765.04 0.34 (2.40) 765.04 LQ 45 986.36 1.26 0.37 986.36
Commodities Previous Lastest Chg% YTD%
Oil (USD/bbl) 58.43 58.43 - 28.56 Gold (USD tr.oz) 1,474.62 1,476.05 0.10 15.08 Nickel (USD/mtrc ton) 13,120.00 13,275.00 1.18 24.18 Tin (USD/mtrc ton) 16,750.00 16,800.00 0.30 (13.74) Copper (USD/mtrc ton) 5,885.00 5,888.00 0.05 (1.29) CPO (MYR/ton) 2,673.00 2,715.00 1.57 35.48 Coal (USD/ton) 68.90 68.40 (0.73) (33.27)
Currencies
Last Chg% YTD% IDR / USD
14,068.00 0.33 2.29
IDR / AUD
9,616.05 0.62 5.72 IDR / EUR
15,602.41 0.24 5.41
IDR /SGD
10,331.68 0.07 2.16 IDR / JPY
129.13 0.15 1.16
IDR / GBP
18,480.22 (0.83) (0.88) Global Macro Economics CB Rate CPI YoY GDP YoY United States 1.75 1.80 2.10 Euro Area 0.00 1.00 1.20 United Kingdom 0.75 1.50 1.00 Japan 0.10 0.20 1.30 China 4.35 3.80 6.00 Domestic macro Economics Lastest Chg% YTD% Jibor 5.00 (15.02) 28.20 GovBonds (5y) 6.52 (0.50) (17.57) GovBonds (10y) 7.12 (0.64) (11.29)
Inflasi YoY 3.00
Inflasi MoM 0.14 Bi rate 5.00 GDP Growth YoY (%) 5.02
Foreign Reserve (Bn) 126.70 Government Bonds Yield% Wow% Ytd% 7 Year 7.12 6.91 6.91 15 Year 7.58 7.58 7.58 20 Year 7.56 7.56 7.56 30 Year 7.76 7.76 7.76
Source: Bloomberg LP & OSO Research Team
Market Review Pada perdagangan Selasa (05/12) IHSG ditutup menguat sebesar 0.64% ke level 6,152.12. Sembilan dari sepuluh indeks sektoral kompak ditutup dalam zona hijau, dimana sektor aneka industri dan perkebunan memimpin penguatan masing-masing sebesar 1.91% dan 1.83%. Adapun saham yang menjadi penggerak indeks diantaranya ; BBRI, TLKM, ASII, BMRI, SMGR. Pelaku pasar asing membukukan aksi beli bersih (Netbuy) senilai Rp 36 miliar. Nilai tukar rupiah terapresiasi sebesar 0.38% ke level 14.068. Global Review Pada perdagangan semalam (05/12) indeks utama Wall Street kompak ditutup dalam zona hijau, dimana S&P naik 0.15%, Dow Jones dan Nasdaq menguat sebesar 0.10% dan 0.05%. Pergerakan indeks masih cenderung tertahan oleh aksi wait and see pasar menantikan kejelasan kesepakatan dagang AS-China yang dinilai kesepakatan tersebut harus selesai sebelum tanggal 15 desember atau sebelum AS menggumumkan tarif impor baru terhadap barang China. Jika kesepakatan tersebut tidak terjadi, maka akan menciptakan kekhawatiran baru terhadap hubungan kedua negara kedepannya. JCI Prediction IHSG ditutup melemah sebesar 0.34% ke level 6.112. IHSG ditutup bearish candl, adapun indikator Stochastic bullish dan MACD Histogram bergerak ke arah positif dengan Volume turun. Kami perkirakan IHSG berpeluang kembali bergerak menguat dengan pergerakan di kisaran level 6.103 - 6.194. Major Economic Release
Consumer Confidence Indonesia bulan
November naik ke level 124.2 dari
sebelumnya di level 118.4.
Balance of Trade United States bulan
Oktober defisit senilai US$ 47.2 miliar turun
dari sebelumnya senilai US$ 51.1 miliar.
Factory Orders United States bulan Oktober
naik sebesar 0.3% dibandingkan
sebelumnya turun sebesar 0.8% (MoM).
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OSODaily 06 Desember 2019
TODAY TOP STOCK TRADED (LQ45)
Top Gainers
Last Chg% YTD% MC (T) Beta
ADRO IJ Equity
1,460 7.35 20.16 46.70 1.43
SMGR IJ Equity
12,425 5.97 8.04 73.70 1.57
WIKA IJ Equity
1,900 5.56 14.80 17.04 1.66
PGAS IJ Equity
2,200 5.26 3.77 53.33 1.81
ERAA IJ Equity
1,490 4.93 (32.27) 4.75 1.08
Top Losers
Last Chg% YTD% MC (T) Beta
HMSP IJ Equity
2,010 (2.43) (45.82) 233.80 1.29
EXCL IJ Equity
3,350 (1.76) 69.19 35.80 1.23
JSMR IJ Equity
5,200 (1.42) 21.50 37.74 1.12
ITMG IJ Equity
10,100 (0.98) (50.12) 11.41 1.50
JPFA IJ Equity
1,585 (0.94) (26.28) 18.59 1.23
Top Volume
Last Volume (Mn) YTD% MC (T) Beta
ADRO IJ Equity
1,460 156.4 20.2 46.70 1.43
TLKM IJ Equity
4,060 118.5 9.8 402.19 0.79
BRPT IJ Equity
1,375 79.5 187.7 122.39 1.25
PGAS IJ Equity
2,200 76.9 3.8 53.33 1.81
BBRI IJ Equity
4,220 72.8 15.3 520.52 1.64
Top Value
Last Value (Bn) YTD% MC (T) Beta
TLKM IJ Equity
4,060 302.4 9.8 402.19 0.79
BMRI IJ Equity
7,175 283.6 (2.7) 334.83 1.59
BBCA IJ Equity
31,700 271.5 21.9 781.56 0.96
BBRI IJ Equity
4,220 184.5 15.3 520.52 1.64
BBNI IJ Equity
7,450 155.1 (15.3) 138.93 1.66
BENCHMARK INDICES COMPARISON Indices Country Latest P/E PBV Target 2019F Asia Pacific
IHSG
Indonesia 6,152 19.23 2.05 6,100
Nikkei
Japanese 23,300 18.55 1.78 24,848
Shanghai
China 2,899 13.97 1.42 3,317
TWSE
Taiwan 11,595 18.79 1.73 12,235
KOSPI
Korea 2,061 16.02 0.80 3,026
KLSE
Malaysia 1,564 18.00 1.57 1,696
ST - Times
Singapore 3,174 12.02 1.07 3,521
Sensex
India 40,859 29.13 2.95 45,131
Hangseng
Hongkong 26,217 11.13 1.21 31,966
JAKARTA COMPOSITE INDEX MOVERS
Movers
Latest Chg% YTD% MC (T) Beta
BBRI IJ Equity
4220 2.18 15.30 521 1.64
TLKM IJ Equity
4060 1.75 9.80 402 0.80
ASII IJ Equity
6700 2.29 (18.54) 271 1.26
BMRI IJ Equity
7175 1.41 (2.71) 335 1.58
SMGR IJ Equity
12425 5.97 8.04 74 1.60
Laggard
Latest Chg% YTD% MC (T) Beta
HMSP IJ Equity
2010 (2.43) (45.82) 234 1.30
BBCA IJ Equity
31700 (0.39) 21.92 782 0.95
TAMU IJ Equity
390 (13.33) (7.14) 15 0.47
MEGA IJ Equity
5750 (4.17) 17.35 40 (0.31)
BALI IJ Equity
1030 (23.99) (33.97) 4 0.27
Movers
Latest Chg% YTD% MC (T) Beta
OSO MANAJEMEN INVESTASI
Mutual Fund Latest 1 Month (%) YTD% Oso Sustainability Fund
1,329.41 (4.54) (11.92)
Oso Syariah Equity Fund
721.49 (19.98) 47.82
Source: Bloomberg LP & OSO Research Team
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OSODaily 06 Desember 2019
COMPARATION OF JCI PERFORMANCE (SEAG)
SEA
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MACRO ECONOMIC & INDUSTRY NEWS
Optimisme konsumen terhadap kondisi perekonomian Indonesia pada November 2019 terlihat menguat. Bank
Indonesia (BI) mencatat Indeks Keyakinan Konsumen (IKK) pada November 2019 sebesar 124,2 atau meningkat dari
bulan Oktober 2019 yang sebesar 118,4. Indeks Kondisi Ekonomi saat ini (IKE) yang semula tercatat 104,8 pada
bulan Oktober 2019, meningkat 4,5 poin menjadi 109,3 pada bulan November 2019.
Jepang merilis paket fiskal senilai US$ 120 miliar pada Kamis untuk mendukung pertumbuhan ekonominya.
Perdana Menteri Jepang Shinzo Abe mengumumkan paket kebijakan fiskal senilai JPY 13 triliun (US$ 119,7 miliar)
yang ukurannya telah dilaporkan sebelumnya. Pemerintah diperkirakan akan mengumumkan rincian lebih lanjut
besok setelah kabinet menyetujuinya.
Defisit neraca perdagangan Amerika Serikat (AS) turun ke level terendah dalam hampir satu setengah tahun
terakhir pada Oktober tahun ini. Departemen Perdagangan AS mengatakan, defisit neraca dagang turun 7,6%
menjadi US$ 47,2 miliar, terendah sejak Mei 2018, seiring impor juga ekspor barang yang menurun.
CORPORATES NEWS PT Merdeka Copper Gold Tbk (MDKA) tengah berupaya untuk mengoptimalkan aset-aset tambang yang dimiliki.
Selain mengoperasikan tambang Tujuh Bukit di Banyuwangi, MDKA pun sedang mengembangkan proyek tambang
tembaga Wetar di Pulau Wetar, Maluku. MDKA membidik produksi 18.000 ton hingga 20.000 ton tembaga pada
tahun ini. Sampai kuartal ketiga, realisasi produksi tembaga sebanyak 13.500 ton.
PT Ifishdeco Tbk (IFSH) berencana membangun smelter kedua lewat anak usahanya, PT Bintang Smelter Indonesia.
Dana yang digelontorkan untuk pembangunan smelter baru sebesar Rp 1,5 triliun. Pendanaan dari kas dan ada
investor dari China, Huwang Hee.
Pada bulan Oktober 2019, anak perusahaan ADRO yakni PT Adaro Indonesia menerbitkan obligasi bertenor lima
tahun senilai US$ 750 juta. ADRO bertindak sebagai induk penjamin (parent guarantor) untuk obligasi ini.
Perolehan bersih dari obligasi ini akan digunakan untuk membayar sebagian utang Adaro Indonesia ketika
mencapai jatuh tempo berdasarkan jadwal amortisasi yang ada serta untuk keperluan umum perusahaan.
PT Indonesia Transport & Infrastructure Tbk (IATA) akan segera mencatatkan saham baru dalam rangka
penambahan modal tanpa hak memesan efek terlebih dahulu (HMETD). Dalam aksi korporasi yang kerap disebut
dengan private placement ini, IATA menerbitkan saham baru sebanyak 718,15 juta saham.
PT Kino Indonesia Tbk (KINO) akan membagikan dividen interim tahun buku 2019. Emiten sektor konsumen ini
akan membagikan dividen interim Rp 25 per saham. Sedangkan total dividen yang dibagi adalah Rp 35,71 miliar.
PT Ifishdeco Tbk (IFSH) mengatakan Peraturan Menteri Energi dan Sumber Daya Mineral (ESDM) Nomor 11 tahun
2019, batas waktu terakhir untuk ekspor bijih nikel yakni akhir Desember 2019. Artinya, awal Januari 2020 para
pengusaha sudah dilarang ekspor. Peraturan pemerintah ini bisa mempengaruhi kinerja IFSH tahun 2020 yang
diperkirakan laba bersih tahun depan akan turun dari proyeksi tahun ini yang sebesar Rp 180 miliar.
Sumber: Kontan, Bisnis Indonesia, Iqplus
NOTE: Positive Sentiment Negative Sentiment Netral
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Technical
Medium/Minor trend : Sideways MACD line/histogram : Positif Stochastic : Bullish Volume : Meningkat
Recommendation : Trading Buy Entry Buy : 6.650 – 6.700 Target Price : 6.800 – 6.900 Support : 6.575 – 6.600 Cutloss : 6.550
DAILY TECHNICAL
Astral Tol Nusantara Bersama CPPIB Menyelesaikan Akuisisi 55% Saham LMS
Astra Tol Nusantara (Astra Infra), anak usaha Astra International Tbk (ASII), bersama mitra strategisnya Canada Pension Plan Investment Board (CPPIB) menyelesaikan akuisisi 55% saham Lintas Marga Sedaya (LMS), pengelola ruas tol Cikopo-Palimanan (Cipali) dari PLUS Expressways International Bhd. Dengan selesainya proses akuisisi ini, maka saham LMS kini seluruhnya dimiliki oleh Astra Infra 55% dan CPPIB 45%. Hingga Oktober 2019, trafik tol Astra Infra telah mencapai 87,31 juta kendaraan, meningkat 22% YoY.
Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 6.800. Apabila break 6.800 next harga ke level 6.900. Hati-hati jika harga tidak mampu break up atau menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 6.550 jika sudah melewati support 6.575 – 6.600.
|ASII|PE : 12.81x | PBV : 1.50x | ROE: 11.70% | NPM : 8.96% | DER : 0.98x | Fair Value : -|
Souce: OSO Research Team
BUY
NOTE:
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OSODaily 08 April 2019
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Technical
Medium/Minor trend : Uptrend MACD line/histogram : Positif Stochastic : Bullish Volume : Meningkat
Recommendation : Buy Entry Buy : 1.080 – 1.105 Target Price : 1.125 – 1.140 Support : 1.075 – 1.080 Cutloss : 1.070
DAILY TECHNICAL
BUY |MAPI|PE : 21.25x | PBV : 2.60x | ROE: 12.14% | NPM : 4.17% | DER : 0.85x | Fair Value : -|
Saham MAPI | MAP BUKA GERAI BOOTS DI INDONESIA PT Mitra Adiperkasa Tbk (MAPI), perusahaan ritel gaya hidup terdepan di Indonesia mengumumkan kesepakatan untuk bermitra dengan Walgreens Boots Alliance, Inc. untuk memulai bisnis ritel farmasi, kesehatan dan kecantikan bermerek BOOTS di Indonesia. Gerai pertama BOOTS di Indonesia direncanakan untuk buka di semester ke-2 tahun 2020, menawarkan serangkaian merek eksklusif BOOTS, serta merek-merek Indonesia dan internasional terdepan. Melalui kemitraan ini, MAP berencana menawarkan pengalaman lengkap BOOTS di Indonesia, sebagaimana pencapaian BOOTS yang telah diraih secara global terkait inisiatif berkelanjutan, termasuk memastikan hidup yang sehat dan mempromosikan well-being untuk segala usia, yang menekankan komitmen kuat MAP terhadap agenda ESG.
Souce: OSO Research Team
Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 1.125. Apabila break 1.125 next harga ke level 1.125. Hati-hati jika harga tidak mampu break up atau menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 1.070 jika sudah melewati support 1.075 – 1.080.
NOTE:
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Technical
Medium/Minor trend : Sideways MACD line/histogram : Positif Stochastic : Bullish Volume : Meningkat
Recommendation : Trading Buy Entry Buy : 4.190 – 4.220 Target Price : 4.300 – 4.350 Support : 4.160 – 4.170 Cutloss : 4.150
DAILY TECHNICAL
BUY |BBRI|PE : 15.75x | PBV : 2.61x | ROE: 16.55% | NPM : 22.90% | DER : 5.54x | Fair Value : - |
Bidik Peluang Bisnis Baru, BRI Gaet Lebih Banyak Fintech di 2020
Bank Rakyat Indonesia (BRI) akan lebih gencar bekerja sama dengan startup teknologi finansial (fintech) pada tahun depan sehingga bisa menghadirkan solusi keuangan yang terintegrasi bagi masyarakat. Kerja sama tersebut digadang-gadang sebagai peluang baru untuk tumbuh. Direktur Digital, Teknologi Informasi dan Operasi Bank BRI Indra Utoyo mengatakan, sejauh ini, pihaknya sudah bekerja sama dengan hampir semua fintech di bidang sistem pembayaran, yaitu OVO, Gopay, dan Link Aja. Selain itu, fintech di bidang pinjaman Investree.
Souce: OSO Research Team
Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 4.300. Apabila break 4.300 next harga ke level 4.350. Hati-hati jika harga tidak mampu break up atau menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 4.150 jika sudah melewati support 4.160 – 4.170.
NOTE:
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Sector Rotation
Mingguan
Bulanan
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OSODaily 06 Desember 2019
FUNDAMENTAL ANALYSIS (LQ 45)
Last Price Change (%) Chg. Ytd (%) PBV (x) PE (x) P/EBITDA ROA (%) ROE (%) DER (x) Fair Value Up-Side Recommendation
SECTOR BASIC INDUSTRY
BRPT IJ Equity 1,375 (0.36) 187.66 7.35 165.63 13.03 0.60 3.53 98.23 640 -53% Sell
CPIN IJ Equity 6,900 (0.72) (4.50) 5.65 31.09 19.30 13.14 19.08 22.95 5,615 -19% Sell
INKP IJ Equity 7,650 3.03 (33.77) 0.75 9.61 3.20 3.57 8.09 113.83 11,300 48% Buy
INTP IJ Equity 20,550 1.36 11.38 3.38 44.39 25.52 6.43 7.58 0.50 20,380 -1% Sell
JPFA IJ Equity 1,585 (0.94) (26.28) 1.85 12.02 4.87 6.39 16.10 59.63 1,958 24% Buy
SMGR IJ Equity 12,425 5.97 8.04 2.36 32.25 9.46 3.48 7.46 30.13 14,536 17% Buy
TKIM IJ Equity 11,250 1.81 1.35 1.81 16.59 19.52 5.01 11.50 120.71 13,000 16% Buy
TPIA IJ Equity 9,700 1.57 63.71 6.95 123.23 41.29 3.21 5.68 34.35 4,733 -51% Sell
Industry Average in LQ45 3.76 54.35 17.02 5.23 9.88 60.04
Total of Industry Average 1.69 25.91 9.38 1.63 (12.15) 101.04
SECTOR CONSUMER GOODS
GGRM IJ Equity 52,900 (0.14) (36.74) 2.15 10.98 6.60 13.37 20.54 38.38 60,911 15% Buy
HMSP IJ Equity 2,010 (2.43) (45.82) 7.32 16.68 12.63 28.65 44.36 0.33 2,317 15% Buy
ICBP IJ Equity 11,250 1.35 7.66 5.48 26.34 15.39 13.90 22.21 9.06 12,858 14% Buy
INDF IJ Equity 7,875 0.32 5.70 1.91 14.17 5.53 5.05 14.20 59.18 9,099 16% Buy
KLBF IJ Equity 1,565 (0.32) 2.96 4.79 28.57 18.80 13.84 17.56 2.34 1,730 11% Buy
UNVR IJ Equity 42,150 0.36 (7.16) 46.69 43.97 28.76 35.85 92.26 20.26 46,457 10% Buy
Industry Average in LQ45 11.39 23.45 14.62 18.44 35.19 21.59
Total of Industry Average 4.67 25.13 11.96 8.78 4.37 54.55
SECTOR INFRASTRUCTURE
EXCL IJ Equity 3,350 (1.76) 69.19 1.89 130.48 3.56 (4.39) (13.14) 125.77 4,053 21% Buy
JSMR IJ Equity 5,200 (1.42) 21.50 2.08 19.52 5.81 2.28 11.28 157.26 6,616 27% Buy
PGAS IJ Equity 2,200 5.26 3.77 1.46 17.58 3.06 3.09 7.33 109.43 2,466 12% Buy
TLKM IJ Equity 4,060 1.75 9.80 4.04 19.85 6.12 9.65 21.31 37.58 4,755 17% Buy
Industry Average in LQ45 2.37 46.86 4.64 2.66 6.69 107.51
Total of Industry Average 2.47 30.03 11.17 (2.96) (2.38) 131.60
Source: Bloomber LP
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OSODaily 06 Desember 2019
FUNDAMENTAL ANALYSIS (LQ 45)
Last Price Change (%) Chg. Ytd (%) PBV (x) PE (x) P/EBITDA ROA (%) ROE (%) DER (x) Fair Value Up-Side Recommendation
SECTOR MINING
ADRO IJ Equity 1,460 7.35 20.16 0.86 6.51 2.93 7.10 13.60 32.95 1,498 3% Hold
AKRA IJ Equity 3,770 3.86 (12.12) 1.85 20.94 11.55 4.57 11.23 42.61 4,647 23% Buy
ANTM IJ Equity 805 2.55 5.23 0.97 24.05 8.42 2.46 4.12 50.26 1,202 49% Buy
INCO IJ Equity 3,110 1.63 (4.60) 1.17 381.74 17.75 0.25 0.29 1.94 4,062 31% Buy
INDY IJ Equity 1,095 1.86 (30.91) 0.45 #N/A N/A 1.00 (1.10) (4.29) 129.53 2,000 83% Buy
ITMG IJ Equity 10,100 (0.98) (50.12) 0.86 4.82 2.65 11.77 17.06 - 13,459 33% Buy
MEDC IJ Equity 740 0.68 8.03 0.74 9.06 1.44 (1.14) (5.07) 202.38 970 31% Buy
PTBA IJ Equity 2,560 4.07 (40.47) 1.66 6.51 4.59 17.59 26.36 5.12 2,725 6% Hold
Industry Average in LQ45 1.07 64.80 6.29 5.19 7.91 58.10
Total of Industry Average 1.64 30.44 9.93 2.66 0.34 94.98
SECTOR MISC INDUSTRY
ASII IJ Equity 6,700 2.29 (18.54) 1.90 13.25 6.96 5.92 14.87 49.27 7,665 14% Buy
SRIL IJ Equity 250 - (30.17) 0.62 4.17 1.65 6.22 15.93 139.64 Neutral #VALUE! #VALUE!
Industry Average in LQ45 1.26 8.71 4.30 6.07 15.40 94.46
Total of Industry Average 2.33 467.77 5.73 2.51 19.93 94.41
SECTOR PROPERTY
BSDE IJ Equity 1,225 0.41 (2.39) 0.81 7.74 8.26 5.69 11.03 46.06 1,722 41% Buy
CTRA IJ Equity 990 (0.50) (1.98) 1.25 18.16 7.75 2.94 7.16 50.80 1,359 37% Buy
PTPP IJ Equity 1,460 3.18 (19.11) 0.70 7.74 3.28 2.27 9.37 74.03 2,332 60% Buy
PWON IJ Equity 560 (0.88) (9.68) 1.87 9.26 7.63 11.59 22.21 36.44 734 31% Buy
WIKA IJ Equity 1,900 5.56 14.80 1.08 7.66 4.05 3.72 15.29 78.93 2,751 45% Buy
WSKT IJ Equity 1,290 2.79 (23.21) 0.96 12.63 3.47 1.04 7.79 224.10 2,081 61% Buy
Industry Average in LQ45 1.11 10.53 5.74 4.54 12.14 85.06
Total of Industry Average 3.32 14.07 11.87 3.64 7.57 45.96
Source: Bloomber LP
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FUNDAMENTAL ANALYSIS (LQ 45)
Last Price Change (%) Chg. Ytd (%) PBV (x) PE (x) P/EBITDA ROA (%) ROE (%) DER (x) Fair Value Up-Side Recommendation
SECTOR TRADE
ERAA IJ Equity 1,490 4.93 (32.27) 1.01 13.37 5.03 3.42 8.28 88.81 1,922 29% Buy
LPPF IJ Equity 3,740 2.47 (33.21) 5.85 13.46 6.79 16.19 37.82 - 3,877 4% Hold
MNCN IJ Equity 1,390 1.46 101.45 1.56 7.80 4.73 13.22 21.24 42.22 1,632 17% Buy
SCMA IJ Equity 1,250 2.88 (33.16) 3.53 14.96 10.17 19.59 26.60 0.33 1,507 21% Buy
UNTR IJ Equity 20,800 0.48 (23.95) 1.39 7.26 3.03 9.42 19.84 17.95 25,385 22% Buy
Industry Average in LQ45 2.67 11.37 5.95 12.37 22.76 29.86
Total of Industry Average 6.75 31.54 65.52 0.80 1.00 65.74
Last Price Change (%) Chg. Ytd (%) PBV (x) PE (x) LDR (%) NPL NIM (%) DER (x) Fair Value Up-Side Recommendation
SECTOR FINANCE
BBCA IJ Equity 31,700 (0.39) 21.92 4.66 27.65 88.15 1.40 6.51 6.30 32,508 3% Hold
BBRI IJ Equity 4,220 2.18 15.30 2.62 15.33 90.10 2.27 7.24 64.57 4,686 11% Buy
BBNI IJ Equity 7,450 0.34 (15.34) 1.17 8.93 92.85 1.90 5.20 82.33 8,960 20% Buy
BBTN IJ Equity 2,220 0.91 (12.60) 0.97 17.16 103.45 2.82 3.54 188.00 2,192 -1% Sell
BMRI IJ Equity 7,175 1.41 (2.71) 1.70 12.32 100.47 2.75 5.38 56.75 8,570 19% Buy
BTPS IJ Equity 3,920 0.51 118.38 7.56 30.15 454.49 1.39 38.72 149.94 3,978 1% Hold
Industry Average in LQ45 2.22 16.28 95.00 2.23 5.57 79.59
Total of Industry Average 5.10 35.17 110.09 3.09 7.47 84.38
Source: Bloomber LP
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TECHNICAL ANALYSIS (LQ 45)
Ticker Last YtD% MA5 RSI Rec MACD Trend
Bollinger Band
Pivot Point
Support Resistance Stop Loss
Level Recommendation
Lower Middle Upper 1 2 1 2
ADRO IJ Equity 1,460 20.2 Negatif Trading Positif 1,230 1,330 1,430 1,415 1,365 1,320 1,460 1,510 1,300 Hold
AKRA IJ Equity 3,770 (12.1) Negatif Trading Positif 3,215 3,590 3,960 3,705 3,625 3,555 3,775 3,855 3,500 Hold
ANTM IJ Equity 805 5.2 Negatif Oversold Positif 755 810 860 800 780 770 810 830 755 Speculative Buy
ASII IJ Equity 6,700 (18.5) Negatif Trading Negatif 6,375 6,575 6,800 6,650 6,575 6,500 6,725 6,800 6,400 Sell
BBCA IJ Equity 31,700 21.9 Negatif Trading Positif 31,100 31,525 31,950 31,775 31,625 31,500 31,900 32,050 31,025 Hold
BBNI IJ Equity 7,450 (15.3) Negatif Trading Negatif 7,300 7,525 7,725 7,475 7,400 7,375 7,500 7,575 7,250 Sell
BBRI IJ Equity 4,220 15.3 Negatif Trading Positif 3,920 4,100 4,285 4,205 4,180 4,145 4,240 4,265 4,085 Hold
BBTN IJ Equity 2,220 (12.6) Negatif OverBought Positif 1,765 2,030 2,290 2,215 2,195 2,185 2,225 2,245 2,150 Sell
BMRI IJ Equity 7,175 (2.7) Negatif Trading Positif 6,800 7,025 7,225 7,150 7,075 7,025 7,200 7,275 6,900 Hold
BRPT IJ Equity 1,375 187.7 Negatif OverBought Positif 890 1,185 1,485 1,365 1,355 1,315 1,405 1,415 1,295 Sell
BSDE IJ Equity 1,225 (2.4) Positif Oversold Negatif 1,225 1,340 1,455 1,225 1,210 1,195 1,240 1,255 1,180 Speculative Buy
BTPS IJ Equity 3,920 118.4 Negatif Trading Negatif 3,775 3,900 4,025 3,910 3,870 3,830 3,950 3,990 3,775 Sell
CPIN IJ Equity 6,900 (4.5) Negatif Trading Negatif 6,450 6,975 7,525 7,000 6,900 6,800 7,100 7,200 6,700 Sell
CTRA IJ Equity 990 (2.0) Negatif Oversold Negatif 975 1,045 1,110 995 980 970 1,005 1,020 955 Speculative Buy
ERAA IJ Equity 1,490 (32.3) Negatif Oversold Negatif 1,355 1,525 1,690 1,465 1,425 1,395 1,495 1,535 1,370 Speculative Buy
EXCL IJ Equity 3,350 69.2 Negatif Trading Negatif 3,280 3,445 3,610 3,355 3,310 3,255 3,410 3,455 3,205 Sell
GGRM IJ Equity 52,900 (36.7) Negatif Trading Positif 49,775 52,675 55,550 53,150 52,550 51,725 53,975 54,575 50,925 Hold
HMSP IJ Equity 2,010 (45.8) Negatif Trading Positif 1,905 2,030 2,155 2,045 1,990 1,945 2,090 2,145 1,915 Hold
ICBP IJ Equity 11,250 7.7 Positif Oversold Negatif 11,050 11,350 11,650 11,250 11,175 11,075 11,350 11,425 10,900 Speculative Buy
INCO IJ Equity 3,110 (4.6) Negatif Oversold Negatif 2,935 3,280 3,625 3,100 3,035 3,000 3,135 3,200 2,955 Speculative Buy
INDF IJ Equity 7,875 5.7 Negatif Trading Negatif 7,725 7,900 8,075 7,875 7,825 7,775 7,925 7,975 7,675 Sell
INDY IJ Equity 1,095 (30.9) Positif Oversold Negatif 1,070 1,240 1,410 1,090 1,070 1,055 1,105 1,125 1,040 Speculative Buy
INKP IJ Equity 7,650 (33.8) Negatif Trading Negatif 6,700 7,650 8,600 7,575 7,475 7,325 7,725 7,825 7,225 Sell
source: Bloomberg Lp
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OSODaily 06 Desember 2019
TECHNICAL NALYSIS (LQ 45)
Ticker Last YtD% MA5 RSI Rec MACD Trend
Bollinger Band
Pivot Point
Support Resistance Stop Loss
Level Recommendation
Lower Middle Upper 1 2 1 2
INTP IJ Equity 20,550 11.4 Negatif Trading Positif 19,225 20,025 20,825 20,500 20,375 20,125 20,750 20,875 19,825 Hold
ITMG IJ Equity 10,100 (50.1) Positif Oversold Negatif 9,850 11,700 13,525 10,225 10,050 9,925 10,350 10,525 9,775 Speculative Buy
JPFA IJ Equity 1,585 (26.3) Positif Trading Negatif 1,570 1,660 1,750 1,600 1,565 1,545 1,620 1,655 1,520 Hold
JSMR IJ Equity 5,200 21.5 Negatif Trading Positif 4,720 5,050 5,350 5,225 5,200 5,125 5,300 5,325 5,050 Hold
KLBF IJ Equity 1,565 3.0 Negatif Trading Positif 1,475 1,535 1,595 1,560 1,555 1,545 1,570 1,575 1,520 Hold
LPPF IJ Equity 3,740 (33.2) Negatif Trading Positif 3,465 3,590 3,715 3,720 3,675 3,630 3,765 3,810 3,575 Hold
MEDC IJ Equity 740 8.0 Negatif OverBought Positif 600 670 740 750 735 730 755 770 715 Sell
MNCN IJ Equity 1,390 101.4 Negatif Trading Negatif 1,255 1,390 1,525 1,385 1,370 1,360 1,395 1,410 1,340 Sell
PGAS IJ Equity 2,200 3.8 Negatif Trading Positif 1,880 1,980 2,075 2,160 2,110 2,060 2,210 2,260 2,030 Hold
PTBA IJ Equity 2,560 (40.5) Negatif Trading Negatif 2,360 2,505 2,645 2,525 2,470 2,415 2,580 2,635 2,380 Sell
PTPP IJ Equity 1,460 (19.1) Negatif Oversold Negatif 1,355 1,510 1,665 1,450 1,420 1,395 1,475 1,505 1,375 Speculative Buy
PWON IJ Equity 560 (9.7) Negatif Trading Positif 550 575 600 565 560 555 570 575 545 Hold
SCMA IJ Equity 1,250 (33.2) Negatif Trading Negatif 1,155 1,255 1,355 1,235 1,205 1,175 1,265 1,295 1,155 Sell
SMGR IJ Equity 12,425 8.0 Negatif Oversold Negatif 11,375 12,250 13,125 12,100 11,725 11,375 12,450 12,825 11,200 Speculative Buy
SRIL IJ Equity 250 (30.2) Positif Oversold Positif 235 260 285 251 249 247 253 255 243 Buy
TKIM IJ Equity 11,250 1.4 Negatif Trading Negatif 9,300 11,250 13,175 11,125 10,875 10,600 11,400 11,650 10,425 Sell
TLKM IJ Equity 4,060 9.8 Negatif Trading Positif 3,820 4,010 4,200 4,030 3,980 3,940 4,070 4,120 3,880 Hold
TPIA IJ Equity 9,700 63.7 Negatif Trading Positif 8,900 9,350 9,825 9,650 9,575 9,500 9,725 9,800 9,350 Hold
UNTR IJ Equity 20,800 (23.9) Negatif Trading Negatif 20,425 22,150 23,875 20,925 20,575 20,325 21,175 21,525 20,025 Sell
UNVR IJ Equity 42,150 (7.2) Negatif Trading Positif 41,150 42,375 43,625 42,175 41,825 41,675 42,325 42,675 41,050 Hold
WIKA IJ Equity 1,900 14.8 Negatif Oversold Negatif 1,750 1,910 2,065 1,855 1,810 1,760 1,905 1,950 1,735 Speculative Buy
WSKT IJ Equity 1,290 (23.2) Positif Oversold Negatif 1,215 1,390 1,565 1,285 1,260 1,245 1,300 1,325 1,225 Speculative Buy
source: Bloomberg Lp
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MAJOR ECONOMIC RELEASE CALENDAR
Date Event Country Act Prev Cons
4-Dec-19 China, Caixin Services PMI NOV CNY 53.5 51.1 52.7
China, Caixin Composite PMI NOV CNY 53.1 52.0
GB Markit/CIPS UK Services PMI Final NOV GBR 49.3 50.0
GB Markit/CIPS Composite PMI Final NOV GBR 49.3 50.0
US ADP Employment Change NOV USD 67K 125K 140
US Markit Composite PMI Final NOV USD 52.0 50.9 51.9
US Markit Services PMI Final NOV USD 51.6 50.6 51.6
US EIA Gasoline Stocks Change 29/NOV USD 3.385M 5.132M
US EIA Crude Oil Stocks Change 29/NOV USD -4.856M 1.572M
5-Dec-19 Japan, Stock Investment by Foreigners NOV/30 JPY ¥394B ¥131.7B
Japan, Foreign Bond Investment NOV/30 JPY ¥-511.1B ¥-155.2B
Indonesia, Consumer Confidence NOV IDN 124.2 118.4
US Challenger Job Cuts NOV USD 44.589K 50.275K
US Balance of Trade OCT USD $-47.1B $-52.5B $-49B
US Continuing Jobless Claims NOV/23 USD 1693K 1640K
US Initial Jobless Claims NOV/30 USD 203K 213K
US Exports OCT USD $207B $206B
US Imports OCT USD $254B $258.4B
US EIA Natural Gas Stocks Change 29/NOV USD -19Bcf -28Bcf
6-Dec-19 Japan, Foreign Exchange Reserves NOV JPY $1324.5B
Japan, Leading Economic Index Prel OCT JPY 91.9 92
Japan, Coincident Index Prel OCT JPY 101.1 101.5
Indonesia, Foreign Exchange Reserves NOV IDN $126.7B
China, Foreign Exchange Reserves NOV CNY $3.105T $3.103T
US Non Farm Payrolls NOV USD 128K 180K
US Unemployment Rate NOV USD 3.6% 3.6%
US Average Hourly Earnings MoM NOV USD 0.2% 0.3%
US Participation Rate NOV USD 63.3% 63.3%
US Government Payrolls NOV USD -3K
US Manufacturing Payrolls NOV USD -36K 36K
US Average Hourly Earnings YoY NOV USD 3% 3%
US Average Weekly Hours NOV USD 34.4 34.4
US Nonfarm Payrolls Private NOV USD 131K 175K
US Wholesale Inventories MoM OCT USD -0.4% 0.2%
Source: Bloomberg Lp
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CORPORATE ACTION
RUPS
Date Time Company Event Place
3-Dec-19 10:00 IGAR RUPSLB Gedung Pasadenia
5-Dec-19 9:00 KONI RUPSLB Hotel Lumire Lt 2
6-Dec-19 9:00 NZIA RUPSLB Go Work Cipete Lt 5
9-Dec-19 8:30 SILO RUPSLB Aryaduta Hotel Village Lippo
10:00 BBLD RUPSLB Gedung World Trade Centre Lt 18
14:00 BMRI RUPSLB Jakarta
14:00 CANI RUPSLB Seminar BEI
12-Dec-19 10:00 ATIC RUPSLB Jakarta 14:00 KPAL RUPSLB 14:00 MRAT RUPSLB Gd Graha Mustika Ratu Lt PH
13-Dec-19 10:00 BKDP RUPSLB Kantor Perseroan 10:00 CPRO RUPSLB TBD
10:00 SSTM RUPSLB Kantor Perseroan
14:00 MARI RUPSLB 15:30 ABBA RUPSLB Dividend
Code Status Cum- Date Ex-Date Recording Date Pay -Date Ammount (IDR)/Share
BRAM Cash Dividen 29-Nov-19 2-Dec-19 3-Dec-19 19-Dec-19 200
UNVR Cash Dividen 2-Dec-19 3-Dec-19 4-Dec-19 18-Dec-19 430 BATA Cash Dividen 2-Dec-19 3-Dec-19 4-Dec-19 23-Dec-19 3,2 DMAS Cash Dividen 3-Dec-19 4-Dec-19 5-Dec-19 18-Dec-19 21 IPCM Cash Dividen 3-Dec-19 4-Dec-19 5-Dec-19 23-Dec-19 3
IPO Company Underwriter Offering Date Listing Date IPO Price Shares (Mn)
Asia Sejahtera Mina Tbk Profindo Sekuritas 28 - 29 Nov 2019 2-Dec-19 110 250
Ifishdeco Tbk UOB Kay Hian Sekuritas 27 - 29 Nov 2019 5-Dec-19 440 425
Galva Technologies Tbk Buana Capital Sekuritas 18 - 19 Des 2019 26-Dec-19 TBA 300
Right Issue
Code OS NS Price (IDR) Cum Date Ex Date Trading Period
TRIS 1 : 2 276 26-Nov-19 27-Nov-19 02 - 06 Desember 2019
DNAR 5 : 2 197 27-Nov-19 28-Nov-19 03 - 09 Desember 2019
TNCA 2 : 3 344 8-Jan-20 9-Jan-20 14 - 20 Januari 2020
Source: KSEI and OSO Research Team
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OSODaily 06 Desember 2019
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