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OSODaily 19 September 2019
ODAY TOP STOCK TRADED (LQ45) JAKARTA COMPOSITE INDEX
6,276.63 39.94
0.64%
Previous 6,236.69 Lowest
6,236.48 Highest 6,276.63 Val IDR bn
7.863
Volbn 13.415 Mkt Cap IDRtr
7,197.03 Net Forg 1DIDRbn (338.06) Net ForgYTDIDRbn
55,144.33
Return YTD (%) 1.33 Month to date (%)
(0.82)
Indices
Last Chg% 6,306.74 Americas
Dow Jones United States 27,147.08 0.13 16.37 S&P 500 United States 3,006.73 0.03 19.94 Nasdaq United States 8,177.39 (0.11) 23.24 EIDO United States 25.36 (0.12) 2.18 EMEA
FTSE 100 United Kingdom 7,314.05 (0.09) 8.71
CAC 40 France 5,620.65 0.09 18.81 D DAX Germany 12,389.62 0.14 17.34
Asia Pacific
Nikkei Japanese 21,960.71 1.28 11.12 Shanghai China 2,978.12 0.25 19.72 TWSE Taiwan 10,874.50 0.51 12.36 KOSPI Korea 2,070.73 0.86 2.33 KLSE Malaysia 1,604.30 (0.30) (5.39) ST – Times Singapore 3,183.00 (0.51) 3.20 Sensex India 36,481.09 0.23 1.37 Hangseng Hongkong 26,790.24 (0.13) 3.51
Sectoral Previous Last Chg% YTD% AGRICULTURE 1,401.29 1,387.60 (0.98) (11.30) MINING 1,677.44 1,671.12 (0.38) (5.93) MISC INDUSTRY 1,156.37 1,187.63 2.70 (14.83) BASIC INDUSTRY 892.72 894.96 0.25 4.71 CONSUMER GOODS 2,234.08 2,243.41 0.42 (12.68) PROPERTY 497.63 501.51 0.78 12.01 INFRASTRUKTUR 1,214.64 1,221.61 0.57 14.78 FINANCE 1,252.62 1,265.92 1.06 7.68 MANUFAKTURE 1,470.64 1,481.06 0.71 (8.47) TRADE 806.76 805.03 (0.21) 2.70 LQ 45 985.92 991.84 0.60 0.93
Commodities Previous Lastest Chg% YTD%
Oil (USD/bbl) 59.34 58.11 (2.07) 28.34 Gold (USD tr.oz) 1,501.38 1,494.00 (0.49) 16.17 Nickel (USD/mtrc ton) 17,045.00 17,200.00 0.91 60.90 Tin (USD/mtrc ton) 16,850.00 16,670.00 (1.07) (14.40) Copper (USD/mtrc ton) 5,821.00 5,814.00 (0.12) (2.53) CPO (MYR/ton) 2,213.00 2,199.00 (0.63) 9.73 Coal (USD/ton) 69.65 68.75 (1.29) (32.93)
Currencies
Last Chg% YTD% IDR / USD
14,067.00 (0.18) 2.30
IDR / AUD
9,613.87 0.52 5.74 IDR / EUR
15,530.98 (0.01) 5.89
IDR /SGD
10,228.75 (0.04) 3.19 IDR / JPY
129.98 0.19 0.50
IDR / GBP
17,508.66 (0.35) 4.62 Global Macro Economics CB Rate CPI YoY GDP YoY United States 2.00 1.70 2.30 Euro Area 0.00 1.00 1.20 United Kingdom 0.75 1.70 1.20 Japan 0.10 0.50 1.00 China 4.35 2.80 6.20 Domestic macro Economics Lastest Chg% YTD% Jibor 5.00 (15.02) 28.20 GovBonds (5y) 6.62 - (16.23) GovBonds (10y) 7.24 (0.01) (9.76)
Inflasi YoY 3.49
Inflasi MoM 0.12 Bi rate 5.50 GDP Growth YoY (%) 5.05
Foreign Reserve (Bn) 126.40 Government Bonds Yield% Wow% Ytd% 7 Year 7.24 7.04 7.04 15 Year 7.68 7.68 7.68 20 Year 7.80 7.80 7.80 30 Year 8.06 8.06 8.06
Source: Bloomberg LP & OSO Research Team
Market Review Pada perdagangan Rabu (18/09) IHSG ditutup menguat sebesar 0.62% ke level 6.276.63. Tujuh dari sepuluh indeks sektoral berakhir dalam zona hijau, dimana sektor aneka industri dan keuangan memimpin penguatan masing-masing sebesar 2.26% dan 1.06%. Adapun saham yang menjadi penggerak indeks diantaranya ; BMRI, ASII, SMMA, HMSP, BBNI. Pelaku pasar asing membukukan aksi jual bersih (Netsell) senilai Rp 338 miliar. Nilai tukar rupiah terdepresiasi sebesar 0.18% ke level 14.067. Global Review Pada perdagangan Rabu (18/09) bursa saham Wall Street ditutup bervariasi dimana Dow Jones dan S&P 500 ditutup menguat sebesar 0.13% dan 0.03% sedangkan Nasdaq melemah 0.11%. Pergerakan pada indeks cenderung dipengaruhi oleh pemangkasan suku bunga dari The Fed sebesar 25 basis poin (bps) ke level 2% sesuai dengan perkiraan pasar sebelumnya. The Fed menilai pemangkasan tersebut seiring dengan adanya pertumbuhan ekonomi yang solid serta adanya peningkatan jumlah tenaga kerja beberapa bulan terakhir. Sementara itu gubernur The Fed yakni, Jerome Powell mengatakan bahwa dirinya akan bertindak agresif untuk menjaga pertumbuhan ekonomi AS ditengah adanya ketidakpastian prospek ekonomi. Selain itu The Fed juga memperkirakan suku bunga ini akan bertahan hingga tahun 2020. JCI Prediction
IHSG ditutup menguat sebesar 0.64% ke level 6.276. IHSG ditutup bullish candle. Adapun indikator berpeluang Stochastic golden cross dan MACD histogram bergerak negatif dengan Volume turun. Kami perkirakan IHSG mampu bergerak menguat dengan pergerakan di kisaran 6262-6353. Major Economic Release
Inflation Rate United Kingdom Bulan Agustus
tercatat sebesar 1.7% lebih rendah dari
sebelumnya sebesar 2.1% (MoM).
Housing Starts United States pada Agustus 2019
naik sebesar 12.3% dibandingkan sebelumnya
yang turun 1.5% (MoM).
Building Permits United States bulan Agustus
naik sebesar 7.7% dibandingkan sebelumnya
yang naik sebesar 6.9% (MoM).
Fed Interest Rate Decision turun ke level 2% dari
sebelumnya di level 2.25%.
EIA Crude Oil Stocks Change periode 13
September naik sebanyak 1.058 juta barel.
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OSODaily 19 September 2019
TODAY TOP STOCK TRADED (LQ45)
Top Gainers
Last Chg% YTD% MC (T) Beta
BTPS IJ Equity
3,290 5.79 83.29 25.35 0.52
INCO IJ Equity
3,740 4.18 14.72 37.16 1.87
ASII IJ Equity
6,700 3.47 (18.54) 271.24 1.28
BMRI IJ Equity
7,200 3.23 (2.37) 336.00 1.55
CTRA IJ Equity
1,140 3.17 12.87 21.16 2.04
Top Losers
Last Chg% YTD% MC (T) Beta
MEDC IJ Equity
755 (3.82) 10.22 13.47 1.73
ERAA IJ Equity
1,920 (3.03) (12.73) 6.12 0.89
ITMG IJ Equity
12,925 (2.82) (36.17) 14.60 1.34
BRPT IJ Equity
1,035 (2.82) 116.53 92.13 1.36
INDY IJ Equity
1,435 (2.38) (9.46) 7.48 1.46
Top Volume
Last Volume (Mn) YTD% MC (T) Beta
HMSP IJ Equity
2,370 137.4 (36.1) 275.67 1.21
PGAS IJ Equity
2,210 85.5 4.2 53.57 1.86
BRPT IJ Equity
1,035 79.3 116.5 92.13 1.36
ANTM IJ Equity
1,065 77.5 39.2 25.59 1.74
BBRI IJ Equity
4,240 76.4 15.8 522.99 1.63
Top Value
Last Value (Bn) YTD% MC (T) Beta
BBCA IJ Equity
30,200 555.9 16.2 744.58 1.02
BBRI IJ Equity
4,240 454.2 15.8 522.99 1.63
GGRM IJ Equity
55,425 390.1 (33.7) 106.64 0.93
PGAS IJ Equity
2,210 370.1 4.2 53.57 1.86
TLKM IJ Equity
4,250 367.3 14.9 421.01 0.79
BENCHMARK INDICES COMPARISON Indices Country Latest P/E PBV Target 2019F Asia Pacific
IHSG
Indonesia 6,277 19.89 2.07 6,800
Nikkei
Japanese 21,961 15.59 1.66 23,978
Shanghai
China 2,986 14.49 1.50 3,288
TWSE
Taiwan 10,929 17.31 1.67 11,446
KOSPI
Korea 2,071 13.36 0.82 2,557
KLSE
Malaysia 1,599 19.38 1.61 1,688
ST - Times
Singapore 3,167 12.45 1.06 3,568
Sensex
India 36,554 25.40 2.75 42,655
Hangseng
Hongkong 26,754 10.34 1.18 32,131
JAKARTA COMPOSITE INDEX MOVERS
Movers
Latest Chg% YTD% MC (T) Beta
BMRI IJ Equity
7200 3.23 (2.37) 336 1.55
ASII IJ Equity
6700 3.47 (18.54) 271 1.28
SMMA IJ Equity
10000 13.64 15.61 64 0.67
HMSP IJ Equity
2370 1.72 (36.12) 276 1.21
BBNI IJ Equity
7900 1.94 (10.23) 147 1.62
Laggard
Latest Chg% YTD% MC (T) Beta
BRPT IJ Equity
1035 (2.82) 116.53 92 1.36
UNVR IJ Equity
46675 (0.59) 2.81 356 1.08
TLKM IJ Equity
4250 (0.47) 14.94 421 0.79
BYAN IJ Equity
16600 (2.35) (16.48) 55 (0.02)
FILM IJ Equity
500 (20.63) (26.47) 5 (0.89)
Movers
Latest Chg% YTD% MC (T) Beta
OSO MANAJEMEN INVESTASI
Mutual Fund Latest 1 Month (%) YTD% Oso Sustainability Fund
1,434.43 (1.95) (4.97)
Oso Syariah Equity Fund
1,156.67 (14.26) 136.98
Source: Bloomberg LP & OSO Research Team
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COMPARATION OF JCI PERFORMANCE (SEAG)
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MACRO ECONOMIC & INDUSTRY NEWS
Pemerintah berusaha untuk mengerem impor dengan tujuan mempersempit defisit neraca transaksi berjalan (TB) atau Current Account Deficit (CAD). Namun, rupanya ini memiliki potensi untuk memunculkan persoalan di sektor lain. Impor pada Agustus 2019 lalu tercatat turun sebesar 15,6% (yoy) menjadi US$ 14,20 miliar. Namun, ini menjadi indikator yang tidak baik bagi sisi produksi, ekspansi, dan terutama investasi.
Suku bunga di pasar repurchase agreement (repo) Amerika Serikat turun pada Rabu (18/9) pagi setelah operasi Federal Reserve New York yang menyuntikkan dana segar US$ 75 miliar ke dalam sistem perbankan semalam sebagai upaya untuk menenangkan pasar. Biaya pinjaman overnight untuk bank dan dealer Wall Street yang menggunakan US Treasury sebagai jaminan ditetapkan sebesar 2,25%-2,60%.
Pertumbuhan Indeks harga konsumen di Inggris pada bulan lalu jatuh ke level terendah sejak Desember 2016. Kantor Statistik Nasional (ONS) mencatat harga barang dan jasa yang dibayar oleh konsumen hanya naik 1,7% pada bulan Agustus setelah mengalami kenaikan 2,1% pada bulan Juli. Data ONS juga menunjukkan harga rumah di Inggris naik hanya naik 0,7% pada bulan Juli dengan secara tahunan. Data ini menjadi kenaikan terkecil sejak 2012 karena pelemahan di pasar London yang menyebar ke bagian Inggris yang lainnya.
CORPORATES NEWS PT Bank Mandiri Tbk (BMRI) memandang bisnis kredit non tunai atau bank garansi masih memiliki prospek
pertumbuhan yang bagus sejalan dengan pertumbuhan GDP Indonesia. Selama periode Januari- Agustus 2019, bisnis bank garansi Bank Mandiri tumbuh sekitar 18% secara year on year (yoy).
Pemerintah Provinsi Bangka Belitung tengah merampungkan Rencana Zonasi Wilayah Pesisir dan Pulau-pulau Kecil (RZWP3K). Zonasi tersebut akan mengatur penambangan timah di kawasan laut daerah tersebut. Merespon zonasi itu, PT Timah Tbk (TINS) pun berkepentingan untuk mengamankan Izin Usaha Pertambangan (IUP) timah mereka agar tetap bisa ditambang. Sebab, tiga perempat IUP tambang laut yang dimiliki TINS berada di Bangka Belitung.
PT Bank Mandiri Tbk (BMRI) kembali mengucurkan kredit investasi ke PT Antam Tbk (ANTM) berupa pemberian fasilitas pinjaman investasi dari BANK MANDIRI sebesar US$129 juta yang ditujukan untuk membiayai pinjaman investasi ANTAM sebelumnya yang akan jatuh tempo pada Juni 2024.
PT Metropolitan land Tbk (MTLA) mencatatkan marketing sales Rp 1,26 triliun hingga Agustus ini. Adapun penopangnya dari segmen menengah dan menengah bawah. Hingga akhir tahun ini, perseroan membidik pendapatan pra penjualan sebesar Rp 2,2 triliun. Dengan sisa waktu yang tak lagi banyak perseroan masih optimis dapat mencapainya.
PT Kalbe Genexine Biologixs (KG Bio) yakni perusahaan patungan (joint venture) antara PT Kalbe Farma Tbk (KLBF) dan Genexine Inc. baru saja mendapat lisensi eksklusif produk Immuno Oncology dari Shanghai Henlius Biotech Inc China pada Kamis (12/9). Namun butuh waktu cukup lama agar produk ini bisa beredar di pasar.
PT Adira Dinamika Multifinance (ADMF) alias Adira Finance berniat menerbitkan obligasi Rp 1,19 triliun. Obligasi ini merupakan bagian dari Obligasi Berkelanjutan IV Adira Finance dengan total target dana Rp 9 triliun.
PT Pembangunan Jaya Ancol Tbk (PJAA) mendapatkan pinjaman dari Bank DKI sebesar Rp 300 miliar. Kredit tersebut akan digunakan sebagai sumber dana capital expenditure (capex) dan operational expenditure (opex) perusahaan itu di sisa tahun ini.
Sumber: Kontan, Bisnis Indonesia, Iqplus
NOTE: Positive Sentiment Negative Sentiment Netral
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Technical
Medium/Minor trend : Uptrend MACD line/histogram : Ke Arah Positif Stochastic : Bullish Volume : Meningkat
Recommendation : BUY Entry Buy : 6.600 – 6.700 Target Price : 6.850 – 6.925 Support : 6.525 – 6.575 Cutloss : 6.500
DAILY TECHNICAL
BUY |ASII|PE : 13.84x | PBV : 1.53x | ROE: 11.07% | NPM : 8.43% | DER : 0.97x | Fair Value :7.400|
Penjualan Mobil Diprediksi Turun, Ini Strategi Astra International (ASII) Penjualan mobil nasional (wholesales) PT Astra International Tbk (ASII) pada Agustus naik tipis 1,45% menjadi 90.403 unit dibandingkan bulan Juli yang mencapai 89.105 unit. Pangsa pasar Astra pada Agustus juga naik menjadi 52% dibandingkan bulan sebelumnya sebesar 50%. Adapun penjualan mobil sepanjang Januari-Agustus 2019 tercatat mencapai 660.286 unit atau turun 13,5% dari periode yang sama tahun 2018 yang mencapai 763.444 unit. Untuk meningkatkan penjualan mobil ASII akan memaksimalkan penjualan secara online dan offline. Lebih rincinya, untuk online Astra mengoptimalkan fitur-fitur yang ada di situsnya, sebagai contoh situs auto2000.
Souce: OSO Research Team
Harga ditutup bullish candle dan menguji resistance. Harga berpeluang menguji level 6.850 . Apabila break 6.850 next harga ke level 6.925. Hati-hati jika harga tidak mampu tembus 6.850 atau malah berbailk menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 6.500 jika sudah melewati support 6.525 – 6.575.
NOTE:
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Technical
Medium/Minor trend : Uptrend MACD line/histogram : Positif Stochastic : Bullish Volume : Meningkat
Recommendation : BUY Entry Buy : 1.390 – 1.405 Target Price : 1.440 – 1.455 Support : 1.375 – 1.385 Cutloss : 1.370
DAILY TECHNICAL
Punya Landbank Besar, Bumi Serpong Damai (BSDE) Fokus Kembangkan Properti di Jabodetabek PT Bumi Serpong Damai Tbk (BSDE ). masih fokus mengembangkan proyek properti di sekitar Jabodetabek. Di kawasan itu, perseroan memiliki total land bank seluas 2.843 hektare. Direktur Bumi Serpong Damai Hermawan Wijaya mengatakan wacana pemindahan ibu kota Indonesia ke Kalimantan Timur dimaksudkan untuk memindahkan pusat pemerintahan. Di sisi lain, Jakarta dan sekitarnya masih akan menjadi pusat bisnis di Indonesia. BSDE berkomitmen akan terus melanjutkan pengembangan kawasan BSD City. Dalam pemberitaan baru-baru ini disebutkan bahwa pemerintah juga menjadikan BSD City sebagai salah satu acuan pengembangan konsep Ibu Kota baru.
Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 1.440. Apabila break 1.440 next harga ke level 1.455. Hati-hati jika harga tidak mampu break up atau menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 1.370 jika sudah melewati support 1.375 – 1.385
|BSDE|PE : 6.47x | PBV : 0.83x | ROE: 12.83% | NPM : 58.10% | DER : 0.63x | Fair Value : 1.690|
Souce: OSO Research Team
BUY
NOTE:
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Technical
Medium/Minor trend : Uptrend MACD line/histogram : Positif Stochastic : Bullish Volume : Meningkat
Recommendation : BUY Entry Buy : 770 – 780 Target Price : 800 – 810 Support : 765 – 770 Cutloss : 760
DAILY TECHNICAL
BUY |SSIA|PE : -55x | PBV : 0.85x | ROE: -1.56% | NPM : -1.86% | DER : 0.76x | Fair Value : 900|
Per Agustus 2019, Surya Semesta Internusa (SSIA) raup kontrak baru Rp 1,73 triliun PT Surya Semesta Internusa Tbk (SSIA), per Agustus 2019, membukukan perolehan kontrak baru senilai Rp 1,73 triliun. Perolehan tersebut setara 49,43% dari target senilai Rp 3,5 triliun tahun ini. Dalam sisa waktu yang sempit, manajemen SSIA mengaku tetap optimistis mencapai nilai kontrak baru. melalui anak usahanya PT Nusa Raya Cipta Tbk (NRCA), SSIA mengampit proyek utama Carstensz Apartement Paramount Serpong dan JHL Galeri Gading Serpong. Selain itu juga 57 Promanade Thamrin, Musim Mas 1 Martubung dan pabrik Harvestar Gresik.
Souce: OSO Research Team
Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 800. Apabila berhasil menguji 800 next harga ke level 810. Hati-hati jika harga tidak mampu break up atau berbalik menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 760 jika sudah melewati support 765 – 770.
NOTE:
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Sector Rotation
Mingguan
Bulanan
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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 BASIC INDUSTRY
BRPT IJ Equity 1,035 (2.82) 116.53 5.51 81.18 7.50 1.13 5.21 98.23 550 -47% Sell
CPIN IJ Equity 5,350 1.90 (25.95) 4.58 22.81 14.10 13.99 21.19 22.95 4,716 -12% Sell
INKP IJ Equity 7,075 (1.39) (38.74) 0.71 6.97 2.79 4.61 10.66 113.83 11,300 60% Buy
INTP IJ Equity 20,775 (0.36) 12.60 3.50 53.45 28.77 5.47 6.48 0.50 19,598 -6% Sell
JPFA IJ Equity 1,590 2.25 (26.05) 1.91 9.83 4.50 8.00 20.16 59.63 1,760 11% Buy
SMGR IJ Equity 12,825 0.79 11.52 2.51 29.36 10.78 4.11 8.74 30.13 14,405 12% Buy
TKIM IJ Equity 10,675 (2.06) (3.83) 1.78 11.63 17.70 6.95 16.45 120.71 13,000 22% Buy
TPIA IJ Equity 8,475 1.80 43.04 6.02 85.09 28.04 4.18 7.14 34.35 4,423 -48% Sell
Industry Average in LQ45 3.31 37.54 14.27 6.06 12.00 60.04
Total of Industry Average 1.78 25.50 8.31 2.26 (23.73) 101.08
SECTOR CONSUMER GOODS
GGRM IJ Equity 55,425 1.46 (33.72) 2.40 12.52 7.38 12.84 20.01 38.38 79,797 44% Buy
HMSP IJ Equity 2,370 1.72 (36.12) 9.68 19.46 14.71 32.64 50.51 0.33 3,192 35% Buy
ICBP IJ Equity 11,875 (0.63) 13.64 6.08 28.48 16.96 13.48 22.92 9.06 12,210 3% Hold
INDF IJ Equity 7,875 1.29 5.70 1.98 14.53 5.68 4.98 14.36 59.18 8,355 6% Hold
KLBF IJ Equity 1,680 - 10.53 5.37 31.51 20.92 13.62 17.85 2.34 1,609 -4% Sell
UNVR IJ Equity 46,675 (0.59) 2.81 70.17 38.39 25.99 43.81 183.94 20.26 45,456 -3% Sell
Industry Average in LQ45 15.95 24.15 15.27 20.23 51.60 21.59
Total of Industry Average 6.30 25.62 19.61 9.21 19.82 46.26
SECTOR INFRASTRUCTURE
EXCL IJ Equity 3,500 1.74 76.77 2.00 130.48 3.89 (5.11) (14.59) 125.77 3,914 12% Buy
JSMR IJ Equity 5,675 1.79 32.59 2.33 18.58 6.14 2.50 13.33 157.26 6,445 14% Buy
PGAS IJ Equity 2,210 1.38 4.25 1.51 17.85 2.99 3.11 7.41 109.43 2,426 10% Buy
TLKM IJ Equity 4,250 (0.47) 14.94 4.48 20.63 6.43 9.77 22.82 37.58 4,720 11% Buy
Industry Average in LQ45 2.58 46.88 4.86 2.57 7.24 107.51
Total of Industry Average 3.09 39.83 213.54 (3.85) (62.30) 131.60
Source: Bloomber LP
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OSODaily 19 September 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 1,405 (2.09) 15.64 0.85 6.15 2.45 7.45 14.21 32.95 1,575 12% Buy
AKRA IJ Equity 3,970 - (7.46) 1.93 21.95 12.58 4.78 11.01 42.61 4,929 24% Buy
ANTM IJ Equity 1,065 1.43 39.22 1.29 31.98 9.34 2.47 4.14 50.26 1,256 18% Buy
INCO IJ Equity 3,740 4.18 14.72 1.42 502.81 22.10 0.23 0.27 1.94 4,269 14% Buy
INDY IJ Equity 1,435 (2.38) (9.46) 0.58 32.81 1.10 0.46 1.74 129.53 2,125 48% Buy
ITMG IJ Equity 12,925 (2.82) (36.17) 1.13 4.38 2.43 17.45 25.70 - 18,198 41% Buy
MEDC IJ Equity 755 (3.82) 10.22 0.76 9.06 1.47 (1.14) (5.07) 202.38 1,043 38% Buy
PTBA IJ Equity 2,550 (0.78) (40.70) 1.76 6.19 4.26 19.91 29.69 5.12 3,140 23% Buy
Industry Average in LQ45 1.21 76.91 6.97 6.45 10.21 58.10
Total of Industry Average 2.17 37.65 15.38 3.59 3.75 94.98
SECTOR MISC INDUSTRY
ASII IJ Equity 6,700 3.47 (18.54) 1.95 12.86 6.97 6.40 15.79 49.27 7,977 19% Buy
SRIL IJ Equity 328 (0.61) (8.38) 0.83 5.15 2.26 6.72 17.23 139.64 Neutral #VALUE! #VALUE!
Industry Average in LQ45 1.39 9.00 4.62 6.56 16.51 94.46
Total of Industry Average 2.32 394.82 6.34 3.04 3.44 94.41
SECTOR PROPERTY
BSDE IJ Equity 1,405 1.44 11.95 0.94 8.97 8.87 5.69 11.01 46.06 1,706 21% Buy
CTRA IJ Equity 1,140 3.17 12.87 1.46 16.24 7.94 3.84 9.39 50.80 1,355 19% Buy
PTPP IJ Equity 1,820 0.55 0.83 0.88 8.16 3.80 2.84 11.34 74.03 2,551 40% Buy
PWON IJ Equity 675 (0.74) 8.87 2.39 11.70 8.66 11.10 22.42 36.44 765 13% Buy
WIKA IJ Equity 2,020 - 22.05 1.18 8.60 4.41 3.70 14.89 78.93 2,788 38% Buy
WSKT IJ Equity 1,700 (1.45) 1.19 1.28 11.71 4.57 1.58 11.35 224.10 2,259 33% Buy
Industry Average in LQ45 1.35 10.90 6.37 4.79 13.40 85.06
Total of Industry Average 2.74 28.71 13.57 4.60 10.11 47.63
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 1,920 (3.03) (12.73) 1.32 11.94 5.10 4.54 11.78 88.81 1,947 1% Hold
LPPF IJ Equity 3,000 (0.33) (46.43) 4.65 9.34 5.01 15.33 45.23 - 4,783 59% Buy
MNCN IJ Equity 1,285 0.78 86.23 1.51 7.80 4.53 12.35 20.53 42.22 1,568 22% Buy
SCMA IJ Equity 1,275 (0.78) (31.82) 3.75 13.11 9.48 20.52 29.07 0.33 1,835 44% Buy
UNTR IJ Equity 22,525 (1.42) (17.64) 1.53 7.49 3.36 10.84 21.57 17.95 30,275 34% Buy
Industry Average in LQ45 2.55 9.93 5.50 12.72 25.64 29.86
Total of Industry Average 7.33 33.79 17.76 1.08 2.48 65.29
Last Price Change (%) Chg. Ytd (%) PBV (x) PE (x) LDR (%) NPL NIM (%) DER (x) Fair Value Up-Side Recommendation
SECTOR FINANCE
BBCA IJ Equity 30,200 0.17 16.15 4.67 27.27 88.15 1.40 6.53 6.30 31,078 3% Hold
BBRI IJ Equity 4,240 (0.24) 15.85 2.75 15.41 90.10 2.27 7.35 64.57 4,682 10% Buy
BBNI IJ Equity 7,900 1.94 (10.23) 1.29 9.68 92.85 1.90 5.14 82.33 9,912 25% Buy
BBTN IJ Equity 2,270 2.71 (10.63) 0.97 8.94 103.45 2.82 3.81 188.00 2,665 17% Buy
BMRI IJ Equity 7,200 3.23 (2.37) 1.81 12.74 100.47 2.75 5.36 56.75 9,001 25% Buy
BTPS IJ Equity 3,290 5.79 83.29 6.34 25.31 454.49 1.39 38.72 149.94 3,653 11% Buy
Industry Average in LQ45 2.30 14.81 95.00 2.23 5.64 79.59
Total of Industry Average 5.11 33.28 110.09 3.09 7.17 84.38
Source: Bloomber LP
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TECHNICAL ANALYSIS (LQ 45)
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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 1,405 15.6 Positif OverBought Positif 970 1,260 1,555 1,405 1,395 1,365 1,435 1,445 1,345 Hold
AKRA IJ Equity 3,970 (7.5) Positif Trading Negatif 3,915 4,115 4,315 3,960 3,935 3,890 4,005 4,030 3,830 Hold
ANTM IJ Equity 1,065 39.2 Positif Trading Negatif 995 1,080 1,160 1,065 1,045 1,035 1,075 1,095 1,015 Hold
ASII IJ Equity 6,700 (18.5) Positif Trading Positif 6,325 6,600 6,900 6,600 6,525 6,400 6,725 6,800 6,300 Speculative Buy
BBCA IJ Equity 30,200 16.2 Positif Trading Positif 29,825 30,125 30,450 30,075 29,950 29,825 30,200 30,325 29,375 Speculative Buy
BBNI IJ Equity 7,900 (10.2) Positif Trading Positif 7,350 7,650 7,950 7,850 7,800 7,725 7,925 7,975 7,600 Speculative Buy
BBRI IJ Equity 4,240 15.8 Negatif Trading Positif 4,065 4,200 4,335 4,240 4,215 4,190 4,265 4,290 4,125 Hold
BBTN IJ Equity 2,270 (10.6) Negatif Trading Positif 1,970 2,120 2,270 2,240 2,210 2,170 2,280 2,310 2,135 Hold
BMRI IJ Equity 7,200 (2.4) Positif Trading Positif 6,875 7,075 7,275 7,125 7,075 6,975 7,225 7,275 6,875 Speculative Buy
BRPT IJ Equity 1,035 116.5 Positif OverBought Negatif 730 970 1,210 1,040 1,020 990 1,070 1,090 975 Sell
BSDE IJ Equity 1,405 12.0 Negatif Trading Positif 1,300 1,360 1,415 1,395 1,380 1,360 1,415 1,430 1,340 Hold
BTPS IJ Equity 3,290 83.3 Positif Trading Positif 2,960 3,165 3,375 3,195 3,100 3,005 3,290 3,385 2,960 Speculative Buy
CPIN IJ Equity 5,350 (26.0) Positif OverBought Positif 4,480 4,970 5,450 5,250 5,175 4,980 5,450 5,525 4,905 Hold
CTRA IJ Equity 1,140 12.9 Positif Trading Positif 990 1,100 1,215 1,125 1,100 1,075 1,150 1,175 1,060 Speculative Buy
ERAA IJ Equity 1,920 (12.7) Negatif Trading Positif 1,340 1,655 1,970 1,960 1,895 1,840 2,015 2,080 1,810 Hold
EXCL IJ Equity 3,500 76.8 Negatif Trading Negatif 3,205 3,395 3,590 3,495 3,440 3,405 3,530 3,585 3,355 Sell
GGRM IJ Equity 55,425 (33.7) Positif Oversold Negatif 55,425 68,175 80,925 55,450 54,550 54,100 55,900 56,800 53,275 Speculative Buy
HMSP IJ Equity 2,370 (36.1) Positif Oversold Negatif 2,350 2,700 3,055 2,380 2,320 2,290 2,410 2,470 2,255 Speculative Buy
ICBP IJ Equity 11,875 13.6 Positif Trading Negatif 11,675 11,900 12,125 11,925 11,850 11,775 12,000 12,075 11,600 Hold
INCO IJ Equity 3,740 14.7 Positif Trading Negatif 3,130 3,610 4,095 3,675 3,575 3,485 3,765 3,865 3,430 Hold
INDF IJ Equity 7,875 5.7 Positif Trading Negatif 7,525 7,825 8,125 7,850 7,800 7,775 7,875 7,925 7,650 Hold
INDY IJ Equity 1,435 (9.5) Positif Trading Positif 1,275 1,415 1,550 1,450 1,430 1,405 1,475 1,495 1,385 Speculative Buy
INKP IJ Equity 7,075 (38.7) Positif Trading Positif 6,575 6,950 7,325 7,150 7,050 6,975 7,225 7,325 6,850 Speculative Buy
source: Bloomberg Lp
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OSODaily 19 September 2019
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 20,775 12.6 Negatif Trading Negatif 20,225 21,175 22,150 20,750 20,525 20,025 21,250 21,475 19,725 Sell
ITMG IJ Equity 12,925 (36.2) Positif Oversold Positif 11,325 13,200 15,075 13,100 12,925 12,725 13,300 13,475 12,550 Buy
JPFA IJ Equity 1,590 (26.0) Positif Trading Positif 1,505 1,585 1,665 1,580 1,560 1,540 1,600 1,620 1,520 Speculative Buy
JSMR IJ Equity 5,675 32.6 Negatif Trading Positif 5,250 5,500 5,750 5,600 5,500 5,400 5,700 5,800 5,325 Hold
KLBF IJ Equity 1,680 10.5 Negatif OverBought Negatif 1,620 1,665 1,710 1,675 1,675 1,665 1,685 1,685 1,640 Strong Sell
LPPF IJ Equity 3,000 (46.4) Positif Oversold Positif 2,960 3,025 3,090 3,010 3,000 2,990 3,020 3,030 2,945 Buy
MEDC IJ Equity 755 10.2 Positif Trading Positif 715 750 790 765 755 745 775 785 735 Speculative Buy
MNCN IJ Equity 1,285 86.2 Positif Trading Positif 1,225 1,275 1,325 1,280 1,265 1,250 1,295 1,310 1,230 Speculative Buy
PGAS IJ Equity 2,210 4.2 Negatif OverBought Positif 1,795 1,980 2,165 2,180 2,140 2,080 2,240 2,280 2,050 Sell
PTBA IJ Equity 2,550 (40.7) Positif Trading Positif 2,320 2,515 2,710 2,565 2,535 2,515 2,585 2,615 2,475 Speculative Buy
PTPP IJ Equity 1,820 0.8 Positif Trading Positif 1,745 1,835 1,925 1,820 1,805 1,785 1,840 1,855 1,760 Speculative Buy
PWON IJ Equity 675 8.9 Positif Trading Positif 605 650 700 680 670 660 690 700 650 Speculative Buy
SCMA IJ Equity 1,275 (31.8) Positif Trading Positif 1,135 1,240 1,340 1,280 1,270 1,250 1,300 1,310 1,230 Speculative Buy
SMGR IJ Equity 12,825 11.5 Negatif Trading Negatif 12,350 13,000 13,650 12,700 12,550 12,250 13,000 13,150 12,075 Sell
SRIL IJ Equity 328 (8.4) Positif Oversold Negatif 328 334 339 330 327 326 331 334 321 Speculative Buy
TKIM IJ Equity 10,675 (3.8) Negatif Trading Positif 9,125 10,025 10,925 10,800 10,550 10,275 11,075 11,325 10,125 Hold
TLKM IJ Equity 4,250 14.9 Positif Trading Negatif 4,140 4,310 4,480 4,255 4,225 4,205 4,275 4,305 4,140 Hold
TPIA IJ Equity 8,475 43.0 Positif Trading Negatif 8,125 8,775 9,425 8,475 8,375 8,325 8,525 8,625 8,200 Hold
UNTR IJ Equity 22,525 (17.6) Positif Trading Positif 19,175 21,600 24,000 22,600 22,400 22,075 22,925 23,125 21,750 Speculative Buy
UNVR IJ Equity 46,675 2.8 Negatif Trading Negatif 45,375 47,100 48,850 46,725 46,500 46,325 46,900 47,125 45,625 Sell
WIKA IJ Equity 2,020 22.1 Positif Oversold Negatif 1,885 2,120 2,355 2,025 1,990 1,965 2,050 2,085 1,935 Speculative Buy
WSKT IJ Equity 1,700 1.2 Positif Oversold Positif 1,675 1,740 1,800 1,715 1,695 1,670 1,740 1,760 1,645 Buy
source: Bloomberg Lp
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MAJOR ECONOMIC RELEASE CALENDAR
Date Event Country Act Prev Cons
18-Sep-19 Japan, Balance of Trade AUG JPY ¥-136.3B ¥-250.7B ¥-355.9B
Japan, Exports YoY AUG JPY -8.2% -1.5% -10.90%
Japan, Imports YoY AUG JPY -12% -1.20% -11.20%
GB Inflation Rate YoY AUG GBR 1.7% 2.10% 1.90%
GB Inflation Rate MoM AUG GBR 0.4% 0% 0.50%
GB PPI Input YoY AUG GBR -0.8% 0.9% -0.50%
GB PPI Input MoM AUG GBR -0.1% 0.6% -0.20%
US Building Permits AUG USD 1.419M 1.317M 1.3M
US Building Permits MoM AUG USD 7.7% 6.9%
US Housing Starts AUG USD 1.364M 1.215M 1.25M
US Housing Starts MoM AUG USD 12.3% -1.5%
US EIA Crude Oil Stocks Change 13/SEP USD 0.781M -6.912M -2.889M
US EIA Gasoline Stocks Change 13/SEP USD 1.058M -0.682M -1.033M
US Fed Interest Rate Decision USD 2% 2.25% 2%
19-Sep-19 Japan, BoJ Interest Rate Decision JPY -0.1% -0.1%
Japan, All Industry Activity Index MoM JUL JPY -0.8%
Indonesia, Interest Rate Decision IDN 5.50% 5.25%
Indonesia, Lending Facility Rate SEP IDN 6.25% 6%
Indonesia, Deposit Facility Rate SEP IDN 4.75% 4.5%
GB Retail Sales YoY AUG GBR 3.3% 2.9%
GB Retail Sales MoM AUG GBR 0.2% 0%
GB BoE Interest Rate Decision GBR 0.75% 0.75%
US Current Account Q2 USD $-130.4B $-127.8B
US Initial Jobless Claims SEP/14 USD 204K 213K
US Continuing Jobless Claims SEP/07 USD 1670K 1672K
US Existing Home Sales MoM JUL USD 2.5% -0.4%
US Existing Home Sales AUG USD 5.42M 5.37M
US CB Leading Index MoM AUG USD 0.5% 0.1%
US EIA Natural Gas Stocks Change 13/SEP USD 78Bcf
20-Sep-19 Japan, Inflation Rate YoY AUG JPY 0.5%
Japan, Inflation Rate MoM AUG JPY 0.1%
Japan, Foreign Bond Investment SEP/14 JPY ¥724.4B
Japan, Stock Investment by Foreigners SEP/14 JPY ¥-161.3B
Indonesia, Motorbike Sales YoY JUN IDN -4.7%
US Baker Hughes Oil Rig Count 20/SEP USD 733
Source: Bloomberg Lp
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CORPORATE ACTION
RUPS
Date Time Company Event Place
17-Sep-19 14:00 PANI RUPSLB Aula Serbaguna Dahlia Apartemen Kedoya
18-Sep-19 10:00 INAF RUPSLB Hotel Borobudur Jakarta 14:00 KAEF RUPSLB Hotel Borobudur Jakarta
25-Sep-19 9:00 KONI RUPSLB Hotel Lumire 13:00 RIGS RUPS Hotel Park Rigs Arion Kemang 14:00 BYAN RUPSLB Mercantile Athletic Club WTC I
14:00 GOLL RUPSLB Plaza Mutiara 14:00 MDKA RUPSLB Grand Aston
26-Sep-19 9:00 MICE RUPSLB Kantor Pusat MICE 10:00 TIRA RUPSLB Ruang Seminar TIRA 10:30 NIPS RUPSLB Hotel Salak Bogor Lt 4
27-Sep-19 10:00 HEXA RUPS Kantor Pusat HEXA
11:00 VINS RUPSLB Gedung Graha BIP
14:00 ACST RUPSLB Ruang Seminar BEI 14:00 ENRG RUPSLB Bakrie Tower Lt 25 14:30 BSSR RUPSLB TBA
30-Sep-19 9:00 EXCL RUPSLB XL Axiata Tower Lt 36
9:30 HRTA RUPSLB Hotel Ibis Styles Tanah Abang
14:00 ARTO RUPSLB Hotel Grand Mercure Jakarta
14:00 CITA RUPSLB Hotel Le meridien Jakarta Dividend
Code Status Cum- Date Ex-Date Recording Date Pay -Date Ammount (IDR)/Share
TGKA Cash Dividen 6-Sep-19 9-Sep-19 10-Sep-19 19-Sep-19 35
IPO Company Underwriter Offering Date Listing Date IPO Price Shares (Mn)
Gunung Raja Paksi Tbk Kresna Sekuritas 13 - 16 September 2019 19-Sep-19 840 1,240
Optima Prima Metal Sinergi Tbk Sinarmas Sekuritas 12 - 16 September 2019 23-Sep-19 135 400
Nusantara Almazia Tbk Sinarmas Sekuritas 17 - 18 September 2019 25-Sep-19 220 461
Trinitan Metals & Minerals Tbk Mirae Asset Sekuritas 23 - 27 September 2019 1-Oct-19 270 - 300 333
Source: KSEI and OSO Research Team
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Rifqiyati Research Analyst +62 21 2991 5300 (Rifqiyati @oso-securities.com)
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Mochammad Cahyo Research Analyst +62 21 2991 5300 ([email protected])
Michelle Abadi Research Associate +62 21 2991 5300 ([email protected])
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the views expressed in this research report accurately reflect the personal views of each such analyst about the subject securities
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