ROTI: As Warm as a Toast - Upgrade to BUY
25 Oct 2018
ROTI: As Warm as a Toast - Upgrade to BUY
Better Sales Return + Better Cost Management = Recommendation upgrade to a BUY – New TP of Rp1,300/ share
We are excited on company’s improvement in demand, sales return and cost management. Hence, we made upward adjustments to our FY18/19F projection and come up with new TP of Rp1,300/ share, an 18.2% upside potential based on yesterday’s closing price of Rp1,100/share. Our new TP implies 40.9x PER and 15.3x EV/EBITDA 2019F,while currently the stock is traded at 34.6x PER and 12.6x EV/EBITDA 2019F. Upgrade to BUY
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