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OSODaily 22 April 2020

ODAY TOP STOCK TRADED (LQ45)

+++++

JAKARTA COMPOSITE INDEX

4.501,93 (73,99)

-1,62%

Previous 4.575,91 Lowest

4.482,64 Highest 4.575,91 Val IDR bn

6.472

Volbn 8;178 Mkt Cap IDRtr

5.204,92 Net Forg 1DIDRbn (427,30) Net ForgYTDIDRbn

(16.452,85)

Return YTD (%) (28,54) Month to date (%)

(0,82)

Indices

Last Chg% YTD% Americas

Dow Jones United States 23.650,44 (2,44) (10,95) S&P 500 United States 2.823,16 (1,79) (2,82) Nasdaq United States 8.560,73 (1,03) 7,04 EIDO United States 15,21 (2,94) (42,97) EMEA

FTSE 100 United Kingdom 5.675,05 (2,37) (23,93)

CAC 40 France 4.389,11 (3,07) (21,35) D DAX Germany 10.313,78 (3,39) (15,62)

Asia Pacific

Nikkei Japan 19.669,12 (1,97) (13,15) Shanghai China 2.852,55 (0,90) (13,57) TWSE Taiwan 10.586,71 (2,82) (6,20) KOSPI Korea 1.898,36 (1,00) (15,20) KLSE Malaysia 1.413,12 (2,22) (14,82) ST – Times Singapore 2.597,85 (1,77) (23,77) Sensex India 31.648,00 (3,20) (21,73) Hangseng Hongkong 24.330,02 (2,20) (20,59)

Sectoral Previous Last Chg% YTD% AGRICULTURE 987,77 963,50 (2,46) (36,80) MINING 1.228,20 1.199,95 (2,30) (22,52) MISC INDUSTRY 714,45 705,81 (1,21) (42,33) BASIC INDUSTRY 647,01 644,01 (0,46) (34,16) CONSUMER GOODS 1.704,44 1.689,16 (0,90) (17,71) PROPERTY 320,66 313,82 (2,13) (37,72) INFRASTRUKTUR 843,94 835,63 (0,98) (26,54) FINANCE 961,72 940,53 (2,20) (30,57) MANUFAKTURE 1.073,16 1.064,51 (0,81) (27,13) TRADE 599,76 586,77 (2,17) (23,78) LQ 45 682,85 667,63 (2,23) (34,19)

Commodities Previous Lastest Chg% YTD%

Oil (USD/bbl) 18,27 (37,63) (305,97) (106,55) Gold (USD tr.oz) 1.682,82 1.695,65 0,76 10,19 Nickel (USD/mtrc ton) 12.042,00 12.514,00 3,92 (10,77) Tin (USD/mtrc ton) 15.070,00 15.215,00 0,96 (11,41) Copper (USD/mtrc ton) 5.211,00 5.183,50 (0,53) (16,04) CPO (MYR/ton) 2.290,00 2.113,00 (7,73) (30,52) Coal (USD/ton) 56,35 54,90 (2,57) (18,97)

Currencies

Last Chg% YTD% IDR / USD

15.468,00 (0,02) (10,36)

IDR / AUD

9.744,37 0,31 (0,27) IDR / EUR

16.758,07 (0,18) (7,19)

IDR /SGD

10.900,88 (0,33) (5,43) IDR / JPY

145,00 (0,84) (11,92)

IDR / GBP

19.165,27 0,27 (4,92) Global Macro Economics

CB Rate CPI YoY GDP YoY

United States 0,25 2,30 2,30 Euro Area 0,00 1,20 1,00 United Kingdom 0,10 1,70 1,10 Japan 0,10 0,40 -0,70 China 4,35 5,20 6,00 Domestic macro Economics Latest Chg% YTD% Jibor 5,00 (15,02) 28,20 GovBonds (5y) 7,58 (0,43) 17,76 GovBonds (10y) 8,14 (0,87) 15,21

Inflasi YoY 2,96

Inflasi MoM 0,10 Bi rate 4,50 GDP Growth YoY (%) 4,97

Foreign Reserve (Bn) 120,97 Government Bonds Yield% Wow% Ytd% 7 Year 7,79 7,75 7,75 15 Year 8,04 8,04 8,04 20 Year 8,08 8,08 8,08 30 Year 8,31 8,31 8,31

Source: Bloomberg LP & OSO Research Team

Market Review Pada perdagangan kemarin (21/04) IHSG ditutup melemah sebesar 1.62% ke level 4.501.92. Seluruh indeks sektoral ditutup dalam teritori negatif, dimana sektor perkebunan dan pertambangan memimpin pelemahan masing-masing sebesar 2.46% dan 2.30%. Adapun saham yang menjadi pemberat indeks diantaranya ; BBCA, BBRI, TLKM, UNTR, ASII. Pelaku pasar asing membukukan aksi jual bersih (Netsell) senilai Rp 437 miliar. Nilai tukar rupiah terdepresiasi sebesar 0.02% ke level 15.468. Global Review Pada perdagangan semalam (21/04) bursa saham Wall Street kompak berada dalam.zona merah, dimana Nasdaq dan S&P 500 melemah sebesar 3.48% dan 3.07%, sedangkan Dow Jones turun sebesar 2.67%. Pelemahan tersebut masih dikarenakan efek Corona yang belum mereda di Amerika Serikat (AS), dalam dua minggu terakhir tercatat kasus Corona di AS naik hampir dua kali lipat melebihi 800 ribu orang. Adapaun efek yang ditimbulkan akibat masa pandemi tersebut sangatlah besar, mulai dari penutupan akses ekonomi sehingga memicu jutaan kasus PHK yang dikarenakan kebijakan perusahaan di saat pandemi. Tercatat hingga bulan kemarin data pengangguran di AS meningkat hingga 22 juta kasus, sementara perkiraan dara aktivitas bisnis AS pekan depan diperkirakan jatuh ke level terendah sejak era resesi. JCI Prediction IHSG ditutup melemah sebesar 1,62% ke level 4.501,92. IHSG ditutup bearish candle. Adapun indikator Stochastic melemah dan MACD histogram bergerak turun dengan Volume meningkat. Kami perkirakan IHSG bergerak melemah dengan pergerakan di kisaran 4.370 – 4.573. Major Economic Release

Existing Home Sales United States bulan

Maret turun sebesar 8.5% dibandingkan

sebelumnya yang naik 6.3% (MoM).



TODAY TOP STOCK TRADED (LQ45)

Top Gainers

Last Chg% YTD% MC (T) Beta

TBIG IJ Equity

1.090 5,31 (11,38) 24,70 0,99

BRPT IJ Equity

1.015 5,18 (32,78) 90,35 1,84

KLBF IJ Equity

1.210 0,83 (25,31) 56,72 1,16

INDF IJ Equity

6.275 0,80 (20,82) 55,10 1,15

BMRI IJ Equity

4.350 (0,46) (43,32) 203,00 1,54

Top Losers

Last Chg% YTD% MC (T) Beta

LPPF IJ Equity

1.395 (7,00) (66,86) 3,91 1,16

MNCN IJ Equity

950 (6,86) (41,72) 13,56 1,11

BTPS IJ Equity

2.050 (6,82) (51,76) 15,79 1,18

BSDE IJ Equity

695 (6,71) (44,62) 13,38 1,52

SCMA IJ Equity

780 (6,59) (44,68) 11,52 1,25

Top Volume

Last Volume (Mn) YTD% MC (T) Beta

TOWR IJ Equity

885 155,2 9,9 45,15 0,80

BBRI IJ Equity

2.720 132,9 (38,2) 335,50 1,39

PGAS IJ Equity

765 99,7 (64,7) 18,54 1,87

MNCN IJ Equity

950 95,7 (41,7) 13,56 1,11

ANTM IJ Equity

482 92,1 (42,6) 11,58 1,87

Top Value

Last Value (Bn) YTD% MC (T) Beta

BBRI IJ Equity

2.720 603,9 (38,2) 335,50 1,39

BBCA IJ Equity

25.800 468,2 (22,8) 636,10 1,10

BMRI IJ Equity

4.350 262,5 (43,3) 203,00 1,54

TLKM IJ Equity

3.070 237,3 (22,7) 304,12 0,93

ASII IJ Equity

3.640 183,5 (47,4) 147,36 1,38

Top Gainers Last Chg% YTD% MC (T) Beta

BENCHMARK INDICES COMPARISON Indices

Country Latest P/E PBV Target 2020F

Asia Pacific IHSG

Indonesia 4.502 13,12 1,26 5.654

Nikkei

Japanese 19.281 17,05 1,43 24.057

Shanghai

China 2.827 13,33 1,38 3.235

TWSE

Taiwan 10.288 16,52 1,51 11.422

KOSPI

Korea 1.879 17,93 0,74 2.456

KLSE

Malaysia 1.382 15,36 1,36 1.501

ST - Times

Singapore 2.552 9,89 0,87 3.082

Sensex

India 30.637 18,63 2,38 40.987

Hangseng

Hongkong 23.794 9,67 1,01 29.671

JAKARTA COMPOSITE INDEX MOVERS

Movers

Latest Chg% YTD% MC (T) Beta

BRPT IJ Equity

1015 5,18 (32,78) 90 1,84

TBIG IJ Equity

1090 5,31 (11,38) 25 0,99

SMSM IJ Equity

1265 16,73 (15,10) 7 0,71

RMBA IJ Equity

252 11,67 (23,64) 9 0,02

TPIA IJ Equity

7900 2,60 (23,86) 141 0,67

Laggard


BBCA IJ Equity

25800 (1,98) (22,81) 636 1,10

BBRI IJ Equity

2720 (2,16) (38,18) 336 1,39

TLKM IJ Equity

3070 (1,60) (22,67) 304 0,93

UNTR IJ Equity

16400 (5,20) (23,81) 62 0,73

ASII IJ Equity

3640 (2,15) (47,44) 147 1,38

Movers


OSO MANAJEMEN INVESTASI

Mutual Fund

Latest 1 Month (%) YTD% Oso Sustainability Fund

1.000,69 (16,65) (27,55)

Oso Syariah Equity Fund

414,50 (11,65) (26,73)

Source: Bloomberg LP & OSO Research Team



COMPARATION OF JCI PERFORMANCE (SEAG)




MACRO ECONOMIC & INDUSTRY NEWS

Harga minyak mentah West Texas Intermediate (WTI) terjun bebas hari Senin (20/4) di pasar saham AS, dan

untuk pertama kalinya turun sampai minus 40 dolar per barel di pasar berjangka untuk bulan Mei. Harga minus

itu berarti, pembeli kontrak berjangka bukannya membayar; melainkan mendapat uang. Penurunan drastis ini

terjadi setelah permintaan bahan bakar di seluruh dunia anjlok karena pandemi corona dan kebijakan lockdown

yang diberlakukan di berbagai negara.

Otoritas China mengumumkan, Produk Domestik Bruto (PDB) regional Beijing hanya mencapai 746,2 miliar yuan

(sekitar US$ 105,5 miliar) pada kuartal pertama. Angka itu mengerucut 6,6% secara YoY. Jika dirinci lebih jauh,

nilai tambah industri tersier mencatatkan penurunan paling lambat sebesar 4,8% YoY selama periode tiga bulan

menjadi 654 miliar yuan.

Adanya pandemi Covid-19 membuat pemerintah memangkas anggaran belanja kementerian. Anggaran

Kementerian Pekerjaan Umum dan Perumahan Rakyat (PUPR) pun dipangkas Rp 44,58 triliun, sehingga pagu

anggaran Kementerian PUPR menjadi RP 75,63 triliun dari pagu 2020 yang sebesar Rp 120,21 triliun.

CORPORATES NEWS

PT Fast Food Indonesia Tbk (FAST) tunda rencana penambahan modal dengan memberikan Hak Memesan Efek

Terlebih Dahulu (HMETD) atau rights issue. Hal tersebut menyusul strategi yang dilakukan perusahaan yakni

mengurangi pengeluaran yang tidak mendesak dan menunda berbagai belanja modal akibat pandemi virus corona.

PT Astra International Tbk (ASII) bersama Standard Chartered Bank dengan Bangkok Bank meneken amendment

letter yang mengubah harga jual Bank Permata menjadi 1,63 kali book value pada Senin (20/4). Corporate

Secretary PT Astra International Tbk Gita Tiffani Boer mengatakan, nilai tersebut berdasar pada nilai buku Bank

Permata untuk periode yang berakhir pada 31 Maret 2020.

PT Kawasan Industri Jababeka Tbk (KIJA) membukukan penurunan pendapatan sepanjang 2019 sebesar 16,97%

yoy menjadi Rp 2,25 triliun dari periode yang sama tahun sebelumnya Rp 2,71 triliun. Namun, laba KIJA naik 190%

dari Rp 40,97 miliar menjadi Rp 118,81 miliar pada tahun 2019.

Kinerja PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) masih prima di kuartal pertama tahun ini. Sepanjang

tiga bulan pertama tahun ini, SIDO membukukan laba periode tahun berjalan yang dapat diatribusikan kepada

entitas induk alias laba bersih sebesar Rp 231,53 miliar. Di periode sama tahun lalu, membukukan laba bersih

sebesar Rp 208,86 miliar. Ini berarti, laba bersih SIDO meningkat 10,85% year-on-year (yoy) di kuartal I 2020.

PT Chitose Internasional Tbk (CINT) mencatatkan penjualan tumbuh 11,17% year on year (yoy) menjadi Rp 411,78

miliar di sepanjang tahun lalu. Kendati penjualannya tumbuh, CINT membukukan laba tahun berjalan yang dapat

diatribusikan kepada entitas induk alias laba bersih CINT merosot 44,70% yoy menjadi Rp 7,08 miliar di sepanjang

tahun 2019.

Sumber: Kontan, Bisnis Indonesia, Iqplus

NOTE: Positive Sentiment Negative Sentiment Netral

http://quote.kontan.co.id/ASII

http://quote.kontan.co.id/KIJA

http://quote.kontan.co.id/KIJA

http://quote.kontan.co.id/SIDO

http://quote.kontan.co.id/CINT




Technical

Medium/Minor trend : Uptrend MACD line/histogram : Bullish Stochastic : Bullish Volume : Meningkat

Recommendation : Trading Buy Entry Buy : 985 – 1.015 Target Price : 1.050 – 1.065 Support : 980 – 985 Cutloss : 875

DAILY TECHNICAL

BUY BRPT l PE : 153,9 l PBV : 4,86 l ROE : 3,76 l NPM : 1,84 l DER : 92,01 l Fair Value : 780

Pendiri Barito Pacific (BRPT) Salurkan Bantuan Pandemi COVID-19 Taipan Prajogo Pangestu, pendiri Barito Pacific Group, memberikan bantuan senilai Rp30 miliar yang akan diserahkan secara bertahap untuk rumah sakit di DKI Jakarta, Jawa Barat, dan Banten guna penanganan pandemi COVID-19. Direktur Utama Barito Pacific Agus Salim Pangestu mengatakan bahwa bantuan tersebut diperoleh dari dua anak perusahaan Barito Pacific Group yaitu PT Chandra Asia Petrochemical Tbk., Star Energy, dan Yayasan Bakti Barito.

Souce: OSO Research Team

Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 1.050. Apabila break 1.050 next harga ke level 1.065. Hati-hati jika harga tidak mampu break up atau menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 875 jika sudah melewati support 980 – 985.

NOTE:




Technical


Recommendation : Buy On Weakness Entry Buy : 1.950 – 2.080 Target Price : 2.110 – 2.150 Support : 1.945 – 1.950 Cutloss : 1.940

DAILY TECHNICAL

BUY MYOR l PE : 21,3 l PBV : 4,83 l ROE : 20,79 l NPM : 7,94 l DER : 70,32 l Fair Value : 2.284

Sebulan Terakhir, Bos Mayora (MYOR) Borong Saham Direktur Utama PT Mayora Indah Tbk. (MYOR) Andre Sukendra Atmadja Kembali menambah kepemilikan saham pada emiten makanan dan minuman tersebut. Berdasarkan data yang dihimpun Bisnis dari keterbukaan informasi Bursa Efek Indonesia, jumlah saham yang ia borong selama sebulan terakhir adalah 406.400 lembar saham. Adapun, sepertinya perseroan melakukan kesalahan saat memasukkan data pada tanggal 24 Maret 2020, sehingga tidak tertera harga transaksi untuk pembelian 51.800 lembar saham pada hari tersebut.


Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 2.110. Apabila break 2.110 next harga ke level 2.150. Hati-hati jika harga tidak mampu break up atau menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 1.940 jika sudah melewati support 1.945 – 1.950.

NOTE:




Technical


Recommendation : Trading Buy Entry Buy : 670 – 690 Target Price : 715 – 725 Support : 665 – 670 Cutloss : 660

DAILY TECHNICAL

Cikarang Listrindo (POWR) Anggarkan Dana US$ 5 Juta Untuk Buyback Perusahaan pembangkit listrik dan pendistribusian listrik PT Cikarang Listrindo Tbk (POWR) menyiapkan dana sebesar US$ 5 juta atau setara Rp 72,45 miliar jika kurs rupiah di level Rp 14.490 per dolar Amerika Serikat (AS). "Sesuai dengan surat edaran OJK, jumlah saham yang akan dibeli kembali tidak akan melebih 20% dari jumlah modal disetor dengan ketentuan paling sedikit saham yang beredar adalah 7,5% dari modal disetor.

Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 715. Apabila break 715 next harga ke level 725. Hati-hati jika harga tidak mampu break up atau menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 660 jika sudah melewati support 665 – 670.

POWR l PE : 7,2 l PBV : 1,06 l ROE : 14,92 l NPM : 13,74 l DER : 84,13 l Fair Value :


BUY

NOTE:




Sector Rotation

Mingguan

Bulanan



FUNDAMENTAL ANALYSIS (LQ 45)

Last Price last Chg. Ytd (%) PBV (x) PE (x) P/EBITDA ROA (%) ROE (%) DER (x) Fair Value Up-Side Recommendation

SECTOR BASIC INDUSTRY

BRPT IJ Equity 1.015 5,18 (32,78) 4,86 153,89 12,36 0,62 3,76 92,01 780 -23% Sell

CPIN IJ Equity 3.940 (2,72) (39,38) 3,23 17,75 11,02 13,14 19,08 22,95 4.986 27% Buy

INKP IJ Equity 4.990 (1,67) (35,19) 0,43 6,33 2,01 3,18 7,06 95,94 11.300 126% Buy

INTP IJ Equity 10.700 (2,28) (43,76) 1,71 21,46 12,61 6,61 7,93 0,48 15.953 49% Buy

JPFA IJ Equity 865 (5,46) (43,65) 0,94 5,72 2,44 7,32 17,32 75,31 1.513 75% Buy

SMGR IJ Equity 5.900 (6,35) (50,83) 1,08 14,64 4,02 3,66 7,54 82,74 12.274 108% Buy

TKIM IJ Equity 4.900 (2,00) (52,31) 0,71 5,77 7,60 5,01 11,50 120,71 13.000 165% Buy

Industry Average in LQ45 1,85 32,23 7,44 5,65 10,60 70,02

Total of Industry Average 1,19 25,86 6,81 1,51 (11,64) 100,29

SECTOR CONSUMER GOODS

ACES IJ Equity 1.280 (2,29) (14,38) 4,90 22,01 15,94 19,19 23,99 2,72 1.400 9% Buy

GGRM IJ Equity 43.200 (3,14) (18,49) 1,63 7,64 4,72 14,73 22,65 34,19 57.084 32% Buy

HMSP IJ Equity 1.570 (1,26) (25,24) 5,12 13,34 9,89 28,15 38,63 1,17 1.906 21% Buy

ICBP IJ Equity 9.975 (0,99) (10,54) 4,86 23,36 13,64 13,90 22,21 9,06 11.435 15% Buy

INDF IJ Equity 6.275 0,80 (20,82) 1,46 11,22 4,16 5,09 13,75 42,38 8.076 29% Buy

KLBF IJ Equity 1.210 0,83 (25,31) 3,57 22,63 14,81 13,05 16,43 4,89 1.439 19% Buy

UNVR IJ Equity 6.925 (1,07) (17,56) 50,02 35,74 23,47 36,08 116,74 75,07 8.488 23% Buy


Total of Industry Average 3,49 21,43 10,26 5,39 (32,48) 58,11

SECTOR INFRASTRUCTURE

EXCL IJ Equity 2.300 (2,13) (26,98) 1,29 130,48 2,32 1,18 3,80 140,83 3.447 50% Buy

JSMR IJ Equity 2.640 (5,71) (48,99) 1,06 9,91 2,95 2,28 11,28 157,26 5.440 106% Buy

PGAS IJ Equity 765 (4,97) (64,75) 0,46 17,46 1,19 0,88 2,63 85,04 1.106 45% Buy

TBIG IJ Equity 1.090 5,31 (11,38) 4,72 28,07 5,72 2,73 19,59 415,69 1.137 4% Hold

TLKM IJ Equity 3.070 (1,60) (22,67) 3,05 15,01 4,63 9,65 21,31 37,58 4.277 39% Buy

TOWR IJ Equity 885 (0,56) 9,94 5,09 19,10 8,35 9,25 27,95 173,14 959 8% Buy


Total of Industry Average 1,76 26,94 8,97 (1,87) (1,42) 128,40

Source: Bloomber LP




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 930 (5,58) (40,19) 0,51 4,68 1,88 5,66 10,95 48,89 1.352 45% Buy

AKRA IJ Equity 1.775 (4,83) (55,06) 0,85 9,95 5,00 3,45 8,54 45,79 3.510 98% Buy

ANTM IJ Equity 482 (3,60) (42,62) 0,64 59,78 5,61 0,62 1,06 47,19 824 71% Buy

INCO IJ Equity 2.430 (3,19) (33,24) 0,79 26,62 7,04 2,59 3,00 0,06 3.225 33% Buy

ITMG IJ Equity 7.150 (4,67) (37,69) 0,56 3,86 2,14 9,76 13,90 1,20 11.843 66% Buy

PTBA IJ Equity 1.825 (5,68) (31,39) 1,12 4,90 3,41 16,14 23,67 3,42 2.502 37% Buy


Total of Industry Average 1,11 15,74 6,27 (0,11) (3,69) 100,25

SECTOR MISC INDUSTRY

ASII IJ Equity 3.640 (2,15) (47,44) 1,00 6,79 3,72 6,23 15,24 49,42 5.714 57% Buy

SRIL IJ Equity 157 (1,88) (39,62) 0,34 2,31 0,91 6,00 15,81 144,29 Neutral #VALUE! #VALUE!


Total of Industry Average 1,09 37,94 5,26 2,13 19,09 96,92

SECTOR PROPERTY

BSDE IJ Equity 695 (6,71) (44,62) 0,45 4,73 4,57 5,24 10,10 39,96 1.274 83% Buy

CTRA IJ Equity 550 (5,98) (47,12) 0,66 8,84 4,08 3,29 7,79 51,66 1.048 91% Buy

PTPP IJ Equity 645 (5,84) (59,31) 0,30 4,31 1,28 1,67 7,10 94,11 1.506 133% Buy

PWON IJ Equity 378 (5,50) (33,68) 1,26 6,25 5,15 11,59 22,21 36,44 619 64% Buy

WIKA IJ Equity 945 (6,44) (52,51) 0,51 3,71 2,66 3,77 14,60 78,48 1.711 81% Buy

WSKT IJ Equity 575 (4,96) (61,28) 0,44 8,32 1,64 0,76 5,23 237,92 1.114 94% Buy



Source: Bloomber LP




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 1.190 (2,86) (33,70) 0,79 12,84 4,28 2,63 6,20 54,32 1.173 -1% Sell

LPPF IJ Equity 1.395 (7,00) (66,86) 2,13 2,87 1,83 27,70 76,74 - 2.398 72% Buy

MNCN IJ Equity 950 (6,86) (41,72) 1,06 5,33 3,23 13,22 21,24 42,22 1.508 59% Buy

SCMA IJ Equity 780 (6,59) (44,68) 2,20 9,34 6,34 19,59 26,60 0,33 1.291 66% Buy

UNTR IJ Equity 16.400 (5,20) (23,81) 1,05 5,41 2,43 9,92 20,20 22,89 21.560 31% Buy



Last Price Change (%) Chg. Ytd (%) PBV (x) PE (x) LDR (%) NPL NIM (%) DER (x) Fair Value Up-Side Recommendation

SECTOR FINANCE

BBCA IJ Equity 25.800 (1,98) (22,81) 3,65 22,27 86,78 1,30 6,57 6,38 30.821 19% Buy

BBRI IJ Equity 2.720 (2,16) (38,18) 1,61 9,68 89,64 2,62 6,78 66,52 4.100 51% Buy

BBNI IJ Equity 4.030 (1,71) (48,66) 0,61 4,88 93,76 2,30 5,03 59,54 6.794 69% Buy

BBTN IJ Equity 880 (3,83) (58,49) 0,39 45,19 113,51 4,78 3,15 225,31 1.730 97% Buy

BMRI IJ Equity 4.350 (0,46) (43,32) 0,99 7,39 100,37 2,33 5,30 50,07 7.207 66% Buy

BTPS IJ Equity 2.050 (6,82) (51,76) 2,93 11,28 479,42 1,37 39,48 140,00 3.614 76% Buy



Source: Bloomber LP



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

ACES IJ Equity 1.280 (14,4) Positif Trading Positif 1.075 1.230 1.385 1.270 1.245 1.210 1.305 1.330 1.190 Speculative Buy

ADRO IJ Equity 930 (40,2) Positif Trading Positif 645 950 1.255 995 955 935 1.015 1.055 920 Speculative Buy

AKRA IJ Equity 1.775 (55,1) Positif Trading Positif 1.520 1.890 2.255 1.870 1.775 1.715 1.930 2.025 1.690 Speculative Buy

ANTM IJ Equity 482 (42,6) Negatif Trading Positif 321 456 590 510 488 471 530 555 463 Hold

ASII IJ Equity 3.640 (47,4) Negatif Oversold Positif 3.440 3.880 4.320 3.705 3.630 3.545 3.790 3.865 3.490 Speculative Buy

BBCA IJ Equity 25.800 (22,8) Positif Trading Positif 22.500 26.450 30.375 26.700 25.775 25.025 27.450 28.375 24.625 Speculative Buy

BBNI IJ Equity 4.030 (48,7) Negatif Trading Positif 3.280 3.920 4.560 4.045 3.990 3.895 4.140 4.195 3.835 Hold

BBRI IJ Equity 2.720 (38,2) Positif Oversold Positif 2.530 2.910 3.285 2.710 2.650 2.520 2.840 2.900 2.480 Buy

BBTN IJ Equity 880 (58,5) Positif Oversold Positif 750 930 1.110 920 885 860 945 980 845 Buy

BMRI IJ Equity 4.350 (43,3) Positif Oversold Positif 3.965 4.710 5.450 4.325 4.250 4.075 4.500 4.575 4.015 Buy

BRPT IJ Equity 1.015 (32,8) Negatif OverBought Positif 338 745 1.150 990 975 935 1.030 1.045 920 Sell

BSDE IJ Equity 695 (44,6) Negatif Trading Positif 560 735 910 795 745 735 805 855 725 Hold

BTPS IJ Equity 2.050 (51,8) Positif Trading Positif 1.765 2.410 3.055 2.235 2.130 2.115 2.250 2.355 2.085 Speculative Buy

CPIN IJ Equity 3.940 (39,4) Positif Trading Positif 3.870 4.530 5.200 4.235 4.040 3.945 4.330 4.525 3.885 Speculative Buy

CTRA IJ Equity 550 (47,1) Negatif Trading Positif 388 530 675 590 555 515 630 665 510 Hold

ERAA IJ Equity 1.190 (33,7) Negatif Trading Positif 775 1.015 1.250 1.165 1.090 1.015 1.240 1.315 1.000 Hold

EXCL IJ Equity 2.300 (27,0) Negatif Trading Positif 1.280 1.910 2.540 2.225 2.195 2.085 2.335 2.365 2.050 Hold

GGRM IJ Equity 43.200 (18,5) Negatif Trading Positif 32.450 42.625 52.800 45.675 43.750 42.375 47.050 48.975 41.750 Hold

HMSP IJ Equity 1.570 (25,2) Negatif Trading Positif 1.125 1.475 1.825 1.570 1.540 1.520 1.590 1.620 1.495 Hold

ICBP IJ Equity 9.975 (10,5) Negatif Trading Positif 8.475 9.700 10.925 10.050 9.950 9.775 10.225 10.325 9.625 Hold

INCO IJ Equity 2.430 (33,2) Negatif Trading Positif 1.310 2.020 2.735 2.400 2.360 2.250 2.510 2.550 2.215 Hold

INDF IJ Equity 6.275 (20,8) Negatif Trading Positif 5.300 6.225 7.125 6.275 6.175 5.925 6.525 6.625 5.850 Hold

INKP IJ Equity 4.990 (35,2) Negatif Trading Positif 2.885 4.300 5.725 5.075 4.910 4.810 5.175 5.350 4.740 Hold

source: Bloomberg Lp



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

INTP IJ Equity 10.700 (43,8) Positif Trading Positif 9.375 11.525 13.675 11.075 10.625 10.300 11.400 11.850 10.150 Speculative Buy

ITMG IJ Equity 7.150 (37,7) Positif Trading Positif 6.125 7.550 9.000 7.625 7.350 7.250 7.725 8.000 7.125 Speculative Buy

JPFA IJ Equity 865 (43,6) Negatif Trading Positif 805 930 1.055 915 875 850 940 980 835 Hold

JSMR IJ Equity 2.640 (49,0) Positif Trading Positif 2.225 2.800 3.375 2.840 2.710 2.690 2.860 2.990 2.650 Speculative Buy

KLBF IJ Equity 1.210 (25,3) Negatif Trading Positif 850 1.100 1.345 1.185 1.165 1.110 1.240 1.260 1.095 Hold

LPPF IJ Equity 1.395 (66,9) Positif Oversold Positif 1.010 1.370 1.735 1.430 1.195 1.065 1.560 1.795 1.050 Buy

MNCN IJ Equity 950 (41,7) Negatif Trading Positif 745 950 1.160 1.045 990 980 1.055 1.110 965 Hold

PGAS IJ Equity 765 (64,7) Positif Trading Positif 620 785 950 810 780 770 820 850 755 Speculative Buy

PTBA IJ Equity 1.825 (31,4) Positif Trading Positif 1.555 1.935 2.310 1.925 1.855 1.830 1.950 2.020 1.800 Speculative Buy

PTPP IJ Equity 645 (59,3) Negatif Trading Positif 436 620 805 700 650 640 710 760 630 Hold

PWON IJ Equity 378 (33,7) Negatif Trading Positif 254 345 437 399 380 381 398 417 375 Hold

SCMA IJ Equity 780 (44,7) Negatif Trading Positif 650 765 885 815 795 780 830 850 770 Hold

SMGR IJ Equity 5.900 (50,8) Positif Oversold Positif 5.925 7.300 8.675 6.700 6.275 6.225 6.750 7.175 6.125 Buy

SRIL IJ Equity 157 (39,6) Negatif Trading Positif 118 148 177 160 157 153 164 167 151 Hold

TBIG IJ Equity 1.090 (11,4) Negatif Trading Positif 755 890 1.025 1.030 1.015 950 1.095 1.110 935 Hold

TKIM IJ Equity 4.900 (52,3) Negatif Trading Positif 3.550 4.610 5.675 5.000 4.850 4.770 5.075 5.225 4.695 Hold

TLKM IJ Equity 3.070 (22,7) Negatif Trading Positif 2.625 3.035 3.440 3.075 3.035 2.965 3.145 3.185 2.920 Hold

TOWR IJ Equity 885 9,9 Negatif OverBought Positif 565 680 790 830 830 795 865 865 780 Sell

UNTR IJ Equity 16.400 (23,8) Positif Trading Positif 12.400 15.925 19.450 17.100 16.450 15.875 17.675 18.325 15.625 Speculative Buy

UNVR IJ Equity 6.925 (17,6) Positif Trading Positif 5.625 6.750 7.850 6.875 6.775 6.500 7.150 7.250 6.400 Speculative Buy

WIKA IJ Equity 945 (52,5) Positif Trading Positif 660 955 1.245 1.065 1.000 1.000 1.065 1.130 985 Speculative Buy

WSKT IJ Equity 575 (61,3) Negatif Trading Positif 371 535 700 605 575 565 615 645 555 Hold

source: Bloomberg Lp



MAJOR ECONOMIC RELEASE CALENDAR

Date Event Country Act Prev Cons

20-Apr-20 Japan, Balance of Trade MAR JPY ¥4.9B ¥1108.8B

Japan, Exports YoY MAR JPY -11.7% -1% -10.1%

Japan, Imports YoY MAR JPY -5% -13.9%

China, Loan Prime Rate 1Y CNY 3.85% 4.05% 3.85%

China, Loan Prime Rate 5Y APR CNY 4.65% 4.75% 4.70%

US Chicago Fed National Activity Index MAR USD -4.19 0.16

21-Apr-20 GB Claimant Count Change MAR GBR 12.2K 17.3K 300K

GB Employment Change JAN GBR 172K 184K 102K

GB Unemployment Rate FEB GBR 4% 3.9% 3.9%

US Existing Home Sales MoM MAR USD -8.5% 6.5% -8.1%

US Existing Home Sales MAR USD 5.27M 5.77M 5.3M

US API Crude Oil Stock Change 17/APR USD 13.143M

22-Apr-20 GB Inflation Rate YoY MAR GBR 1.7% 1.5%

GB Inflation Rate MoM MAR GBR 0.4% 0%

GB PPI Output YoY MAR GBR 0.4% -0.1%

GB PPI Input YoY MAR GBR 2.1% -3.9%

US House Price Index MoM FEB USD 0.3%

US EIA Crude Oil Stocks Change 17/APR USD 19.248M

US EIA Gasoline Stocks Change 17/APR USD 4.914M

Source: Bloomberg Lp



CORPORATE ACTION

Dividend

Code Status Cum- Date Ex-Date Recording Date Pay -Date Ammount (IDR)/Share

SIDO Cash Dividen 17-Apr-20 20-Apr-20 21-Apr-20 05-Mei-20 49

MFMI Cash Dividen 17-Apr-20 20-Apr-20 21-Apr-20 05-Mei-20 132

BNGA Cash Dividen 20-Apr-20 21-Apr-20 22-Apr-20 08-Mei-20 55

BBCA Cash Dividen 20-Apr-20 21-Apr-20 22-Apr-20 11-Mei-20 455

PTRO Cash Dividen 21-Apr-20 22-Apr-20 23-Apr-20 15-Mei-20 US$ 0.0069

DMAS Cash Dividen 21-Apr-20 22-Apr-20 23-Apr-20 12-Mei-20 21

IPO Company Underwriter Offering Date Listing Date IPO Price Shares (Mn)

Bhakti aMulti' Artha Tbk Jasa Utama Capital Sekuritas 02 - 08 April 2020 15-Apr-20 100 103

Bumi Benowo Sukses Sejahtera Tbk Mirae Asset Sekuritas 02 - 07 April 2020 15-Apr-20 160 120

Right Issue

Code OS NS Price (IDR) Cum Date Ex Date Trading Period

TNCA 2 : 3 344 08-Jan-20 09-Jan-20 14 - 20 Januari 2020

FAST 100 : 7 1.25 18-Jun-20 19-Jun-20 24 - 30 Juni 2020

Source: KSEI and OSO Research Team



Disclaimer This report has been prepared by PT OSO Sekuritas Indonesia on behalf of itself and its affiliated companies and is provided for information purposes only. Under no circumstance.is it to be used or considered as an offer to sell, or a solicitation of any offer to buy. This report has been produced independently and the forecasts, opinions and expectations contained herein are entirely those of PT. OSO Sekuritas Indonesia. We expressly disclaim any responsibility or liability (express or implied) of PT. OSO Sekuritas Indonesia, its affiliated companies and their respective employees and agents whatsoever and howsoever arising (including, without limitation for any claims, proceedings, action , suits, losses, expenses, damages or costs) which may be brought against or suffered by any person as a results of acting in reliance upon the whole or any part of the contents of this report and neither PT. OSO Sekuritas Indonesia, its affiliated companiesor their respective employees or agents accepts liability for any errors, omissions or mis-statements, negligent or otherwise, in the report and any liability in respect of the report or any inaccuracy therein or omission there from which might otherwise arise is hereby expresses disclaimed. The information contained in this report is not be taken as any recommendation made by PT. OSO Sekuritas Indonesia or any other person to enter into any agreement with regard to any investment mentioned in this document. This report is prepared for general circulation. It does not have regards tothe specific person who may receive this report. In considering any investments you should make your own independent assessment and seek your own professional financial and legal advice.

Research Team Ike Widiawati Head of Research +62 21 2991 5300 ([email protected])

Rifqiyati Research Analyst +62 21 2991 5300 (Rifqiyati @oso-securities.com)

Sukarno Alatas Research Analyst +62 21 2991 5300 ([email protected])

Mochammad Cahyo Research Analyst +62 21 2991 5300 ([email protected])

Michelle Abadi Research Associate +62 21 2991 5300 ([email protected])

Disclosure Of Interests

As of the date of this report, 1. The research analysts primarily responsible for the preparation of all or part of this report hereby certify that:

the views expressed in this research report accurately reflect the personal views of each such analyst about the subject securities

and issuers; and

no part of the analyst’s compensation was, is, or will be directly or indirectly, related to the specific recommendations or views

expressed in this research report.

2. The research analysts primarily responsible for the preparation of all or part of this report, or his/her associate(s), do not have any interest (including any direct or indirect ownership of securities, arrangement for financial accommodation or serving as an officer) in any company mentioned in this report

3. PT OSO Securities Indonesia on a business in Indonesia in investment banking, proprietary trading or agency broking in relation

to securities

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