Analyst consensus as cited by Indo Premier Trading recommended buy and hold for WIKA’s stock, with an average target price of Rp 3,015. Upside potential is 5% from its current price of Rp 2,870.
Meanwhile, the consensus gave PTPP’s stock buy recommendation with an average target price of Rp 4,580. Its upside potential is 20% from present price Rp 3,820.
JSMR’s stock also got buy recommendation with an average target price of Rp 6,275. The upside potential is 16% from currently Rp 5,400.
The price targets presented includes future rights issue from these three issuers. Several analysts have revised their price target upward compared to early this year, especially for WIKA.
WIKA’s average target price for January-March 2016 period is Rp 2,990. Their target price has been revised by 4.2%. Meanwhile, PTPP’s average target price is Rp 4,807 (revised downward), and JSMR’s is Rp 6,828 (revised by 26%).
Reza Priyambada, Chief Research of NH Korindo Securities, said that the stocks of these three SOEs perhaps will decline prior to rights issue, but will have the potential to rebound in line with their performance development until year end.(*)
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