Selasa, 22 Juni 2021
L A P O R A N H A R I A N
Daily Report is also available in BNI Sekuritas website : www.bnisekuritas.co.id
RESEARCH
Equity
LAPORAN RISET
Property Sector: Short Term Pressure What’s New?The rising Covid-19 cases has led the govt to reduce capacity in retail malls and restaurants to 25% (from 50% previously) and operational hours. We see this as a temporary setback and remains positive on the long-term outlook for property sector. Top picks: PWON and CTRA.
Key Highlights:
Meanwhile, Jakarta targets to reach herd immunity in Aug’21 by ramping up vaccination rate. This will be positive for a sustainable recovery.
PWON and SMRA have highest exposure to retail malls in Jakarta (red zone area) to its total revenues.
We believe the sector’s solid long-term investment thesis still holds.
Analyst: Aurellia Setiabudi (aurellia.setiabudi@bnisekuritas.co.id)
RINGKASAN BERITA
PP Properti (PPRO) Kantongi Marketing Sales Rp202,48 Miliar per Mei 2021. PT PP Properti Tbk (PPRO)
membukukan pendapatan prapenjualan senilai Rp202,48 miliar hingga Mei 2021. Realisasi tersebut setara dengan 14,46 persen dari target marketing sales yang dibidik tahun ini Rp1,4 triliun. Direktur Utama PP Properti I Gede Upeksa Negara mengatakan realisasi marketing sales tersebut mengalami penurunan secara year-on-year. Dukungan insentif pemerintah diharapkan membantu pemulihan sektor properti tahun ini. Pada kuartal I/2021, pemerintah memberikan insentif berupa Pajak Pertambahan Nilai (PPN) yang ditanggung pemerintah sebesar 100 persen dari PPN terutang atas penyerahan rumah tapak atau rumah susun dengan harga jual paling tinggi Rp2 miliar. (Bisnis Indonesia)
Lepas 294,8 Juta Saham Alfaria, Morgan Stanley Raih Rp 325,25 Miliar. Morgan Stanley & Co International Plc
menjual sebagian kepemilikan sahamnya di PT Sumber Alfaria Trijaya Tbk (AMRT) senilai Rp 325,25 miliar. Aksi tersebut menjadikan porsi saham Morgan Stanley di Alfamart turun menjadi 7,81%. Sekretaris Perusahaan Sumber Alfaria Tomin Widian menjelaskan, penjualan saham tersebut dilaksanakan pada 11 Juni 2021. Sebelum transaksi, Morgan Stanley masih menggenggam 3,5 miliar atau 8,52% saham AMRT. Kemudian, Morgan Stanley menjual sebanyak 294,88 juta sahamnya pada harga Rp 1.103, sehingga perusahaan investasi tersebut meraup dana Rp 325,25 miliar. Dengan penjualan saham ini, kepemilikan saham Morgan Stanley berkurang menjadi 3,24 miliar atau menjadi 7,81% dari total kepemilikan. (Investor Daily) Closing Change %Chg %Ytd P/E
Americas INDU Index 33,876.97 586.89 1.76 10.69 25.55 SPX Index 4,224.79 58.34 1.40 12.48 29.88 CCMP Index 14,141.48 111.1 0.79 9.72 93.54 IBOV Index 129,265.00 859.6 0.67 8.61 15.88 EMEA UKX Index 7,062.29 44.82 0.64 9.31 50.61 CAC Index 6,602.54 33.38 0.51 18.93 47.25 DAX Index 15,603.24 155.2 1.00 13.74 33.44 IBEX Index 9,051.70 21.1 0.23 12.11 #N/A N/A FTSEMIB Index 25,397.72 179.56 0.71 14.23 3.88 AEX Index 723.77 4.14 0.58 15.88 135.23 SMI Index 11,995.63 54.38 0.46 12.07 26.61 Asia / Pacific NKY Index 28,010.93 -953.15 -3.29 2.07 19.66 KOSPI Index 3,240.79 -27.14 -0.83 12.78 20.70 SHCOMP Index 3,529.18 4.086 0.12 1.62 15.87 HSI Index 28,489.00 -312.27 -1.08 4.62 13.12 TWSE Index 17,062.98 -255.56 -1.48 15.82 17.96 SENSEX Index 52,574.46 230.01 0.44 10.10 31.42 SET Index 1,601.13 -11.85 -0.73 10.47 29.92 PCOMP Index 6,827.17 -24.21 -0.35 (4.38) 29.18 KLCI Index 1,572.24 -16.81 -1.06 (3.38) 17.57 FSSTI Index 3,117.87 -26.29 -0.84 9.64 37.04 JCI Index 5,996.25 -10.867 -0.18 0.29 31.13
Description Last Previous %Chg Market Capitalization (IDR Trillion) 7,093.86 7,107.41 -0.19 Transaction Volume (Million Shares) 16,840.00 25,783.74 -34.69 Transaction Value (IDR Million) 10,725.00 15,962.99 -32.81 Stocks Value (IDR) 636.88 619.11 2.87 Net Foreign (IDR Million) 2,099,713.75 (192,705.00) -1,189.60
Commodities Last Previous %Chg Nickel (US$/Ton) 17,154.00 17,174.00 -0.12 Copper (US$/Ton) 9,145.50 9,315.50 -1.82 Tins (US$/Ton) 29,862.00 30,600.00 -2.41 Oil (US$/BBL) (*) 73.66 71.64 2.82 Gas (US$/MMBTU) 2.87 2.95 -2.57 Coal (US$/Ton) (**) 125.50 125.00 0.40 CPO MALAYSIA(RM/ton) 3,509.00 3,529.00 -0.57 Gold (US$/Troy Ounce) 1,783.33 1,783.27 0.00
JCI Sectors Performance Weighting (%) 1D Chg (%) 5D Chg (%)
JCI Index 100.00 -0.18 -1.38 Financials 37.71 -0.43 -2.32 Consumer Non-Cyclical 14.93 0.61 -2.74 Basic Material 10.62 -0.86 -0.42 Infrastructure 10.33 -0.37 -0.55 Industrials 7.05 -1.61 -1.42 Energy 4.91 -1.14 -4.45 Consumer Cycl 4.28 -0.23 -2.57
Properties & Real Estate 3.50 -1.54 -4.98
Healthcare 3.35 8.90 5.99
Technology 2.92 -0.64 18.96
Selasa, 22 Juni 2021
L A P O R A N H A R I A N
RESEARCH
Equity
Akumulasi Beli/-Jual Bersih Asing
Nilai Tukar USD/IDR dan IHSG
Pergerakan IHSG
5,400 5,600 5,800 6,000 6,200 6,400 6,600 0 5,000,000 10,000,000 15,000,000 20,000,000 1/4/ 20 21 1/8/ 20 21 1/ 14 /2 021 1/ 20 /2 021 1/ 26 /2 021 2/1/ 20 21 2/5/ 20 21 2/ 11 /2 021 2/ 18 /2 021 2/ 24 /2 021 3/2/ 20 21 3/8/ 20 21 3/ 15 /2 021 3/ 19 /2 021 3/ 25 /2 021 3/ 31 /2 021 4/7/ 20 21 4/ 13 /2 021 4/ 19 /2 021 4/ 23 /2 021 4/ 29 /2 021 5/5/ 20 21 5/ 11 /2 021 5/ 20 /2 021 5/ 27 /2 021 6/3/ 20 21 6/9/ 20 21 6/ 15 /2 021 6/ 21 /2 021Accumulation JCI Index
13,000 13,500 14,000 14,500 15,000 15,500 16,000 4,000 4,500 5,000 5,500 6,000 6,500 7,000 1/1/2021 2/1/2021 3/1/2021 4/1/2021 5/1/2021 6/1/2021 JCI Index USDIDR
0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 5,400 5,600 5,800 6,000 6,200 6,400 6,600
Jan-21 Jan-21 Feb-21 Mar-21 Mar-21 Apr-21 May-21 May-21 Jun-21
Volume JCI Index
No
Stock
Top Value (IDR)
1
BBRI IJ
567,646,900,000
2
BMRI IJ
419,703,300,000
3
BBCA IJ
380,627,900,000
4
FREN IJ
345,488,600,000
5
KLBF IJ
323,810,000,000
No
Stock
Top Volume (Shares)
1
FREN IJ
2,828,068,500.00
2
BHIT IJ
1,007,325,600.00
3
BABP IJ
545,793,000.00
4
MLPL IJ
380,183,100.00
5
KPIG IJ
237,228,000.00
No
Top Gainers
% Change
1
SDPC IJ
34.59
2
BIKA IJ
34.46
3
SRAJ IJ
34.16
4
LMAS IJ
34.02
5
AGII IJ
25
No
Top Losers
% Change
1
HITS IJ
-7
2
PORT IJ
-7
3
PURA IJ
-6.98
4
SAMF IJ
-6.98
5
EDGE IJ
-6.96
No Leading Movers
% Change
1
UNVR IJ
4.08
2
KLBF IJ
8.82
3
BINA IJ
25.00
4
MIKA IJ
11.02
5
BBRI IJ
0.77
No Lagging Movers
% Change
1
BBCA IJ
-1.19
2
BMRI IJ
-2.82
3
TLKM IJ
-1.49
4
UNTR IJ
-5.16
Selasa, 22 Juni 2021
L A P O R A N H A R I A N
3
RESEARCH
Equity
TARGET HARGA SAHAM
Market Weighting EPS Growth PER PBV PEG DER (x) ROE (%) Total Return % of Free Rec TP (Rp/share) Last Potential
Capitalization (Bn) (%) 1 Year FY21F FY21F Ratio 1 Year (Current) Float Shares 2021 2021 Price Upside
Banking
BBCA IJ Equity 770,469 13.55 -5.09 27.91 4.31 -5.48 6.97 15.75 14.03 44.89 BUY 37,150 31,250 18.88% BBNI IJ Equity 92,684 1.63 -78.66 65.43 0.80 -0.83 53.54 1.27 11.78 39.98 NOT RATED - 4,970 #VALUE! BBRI IJ Equity 485,900 8.54 -45.97 27.83 2.52 -0.61 68.12 9.39 30.09 43.22 BUY 5,000 3,940 26.90% BMRI IJ Equity 281,167 4.94 -37.71 18.57 1.55 -0.49 51.96 8.52 27.70 37.95 BUY 7,700 6,025 27.80% Cement
SMGR IJ Equity 59,315 1.04 16.87 21.21 1.77 1.26 67.19 8.41 7.65 48.99 BUY 16,500 10,000 65.00% INTP IJ Equity 39,849 0.70 -1.58 22.68 1.77 -14.37 2.26 7.64 -6.48 49.00 BUY 17,600 10,825 62.59% Telecommunication
TLKM IJ Equity 326,905 5.75 11.47 15.71 3.19 1.37 54.15 20.59 10.93 47.91 BUY 4,000 3,300 21.21% ISAT IJ Equity 38,581 0.68 #N/A N/A 632.07 3.20 #VALUE! 215.44 0.50 180.63 35.00 BUY 6,700 7,100 -5.63% EXCL IJ Equity 28,957 0.51 -47.76 #N/A N/A 1.48 #VALUE! 175.72 -4.13 -1.71 33.64 BUY 3,100 2,700 14.81% Automotive
ASII IJ Equity 199,179 3.50 6.86 13.21 1.24 1.93 40.66 9.57 6.12 49.80 BUY 7,000 4,920 42.28%
Market Weighting EPS Growth PER PBV PEG DER (x) ROE (%) Total Return % of Free Rec TP (Rp/share) Current Potential
Capitalization (Bn) (%) 1 Year FY21F FY21F Ratio 1 Year (Current) Float Shares 2021 2021 Price Upside
Construction
WIKA IJ Equity 9,867 0.17 -91.87 59.86 0.72 -0.65 157.75 1.17 -13.04 34.94 BUY 2,500 1,100 127.27% ADHI IJ Equity 3,080 0.05 -96.24 186.21 0.55 -1.93 175.28 0.29 38.40 48.99 BUY 2,490 865 187.86% PTPP IJ Equity 5,952 0.10 -84.09 39.00 0.56 -0.46 132.47 1.43 11.63 48.95 BUY 2,030 960 111.46% WSKT IJ Equity 12,963 0.23 #N/A N/A #N/A N/A 1.72 #VALUE! 376.18 -58.07 28.19 33.95 BUY 1,450 955 51.83% WTON IJ Equity 2,179 0.04 -75.01 27.21 0.65 -0.36 82.24 2.42 -11.68 32.17 BUY 470 250 88.00% WSBP IJ Equity 4,244 0.07 #N/A N/A #N/A N/A 3.41 #VALUE! 491.97 -102.45 -17.86 32.98 UR UR 161 #VALUE! Toll Road
JSMR IJ Equity 26,927 0.47 -77.30 53.74 1.41 -0.70 256.03 2.65 -9.84 24.39 BUY 5,300 3,710 42.86% Property
BSDE IJ Equity 20,430 0.36 -90.62 35.47 0.66 -0.39 49.67 2.09 20.63 38.63 BUY 1,500 965 55.44% CTRA IJ Equity 16,519 0.29 14.52 11.92 1.06 0.82 57.42 9.16 25.98 46.67 BUY 1,400 890 57.30% PWON IJ Equity 20,901 0.37 -65.80 19.01 1.41 -0.29 22.41 7.67 -2.69 31.29 BUY 770 434 77.42% SMRA IJ Equity 13,502 0.24 -65.07 67.77 1.77 -1.04 104.10 2.56 27.26 69.45 BUY 1,200 820 46.34%
Market Weighting EPS Growth PER PBV PEG DER (x) ROE (%) Total Return % of Free Rec TP (Rp/share) Current Potential
Capitalization (Bn) (%) 1 Year FY21F FY21F Ratio 1 Year (Current) Float Shares 2021 2021 Price Upside
Agriculture
AALI IJ Equity 15,013 0.26 294.60 24.04 0.78 0.08 29.22 3.28 -5.26 20.32 BUY 13,500 7,800 73.08% TBLA IJ Equity 4,194 0.07 3.34 6.08 0.70 n.a 164.51 12.07 44.59 44.65 BUY 1,200 785 52.87% Metal
ANTM IJ Equity 52,868 0.93 492.69 25.65 2.67 0.05 40.72 10.90 264.87 34.95 BUY 4,500 2,200 104.55% INCO IJ Equity 42,826 0.75 43.10 33.87 1.45 0.79 0.00 4.35 50.42 20.49 BUY 6,500 4,310 50.81% TINS IJ Equity 10,725 0.19 45.12 124.45 2.12 2.76 126.55 1.67 138.02 35.00 BUY 1,200 1,440 -16.67% Coal
PTBA IJ Equity 23,963 0.42 -42.59 9.07 2.09 -0.21 5.50 10.69 -5.96 31.20 BUY 3,500 2,080 68.27% Consumer
UNVR IJ Equity 194,565 3.42 #N/A #N/A #N/A #N/A 80.51 101.58 -33.91 15.01 BUY 7,450 5,100 46.08% INDF IJ Equity 52,902 0.93 #N/A #N/A #N/A #N/A 67.62 16.11 -4.43 49.92 BUY 9,200 6,025 52.70% ICBP IJ Equity 92,421 1.63 30.79 14.03 3.14 0.46 63.03 24.07 -9.12 19.47 BUY 12,470 7,925 57.35% GGRM IJ Equity 69,700 1.23 -29.71 10.03 1.16 -0.34 10.57 12.23 -26.07 23.78 BUY 56,000 36,225 54.59% HMSP IJ Equity 128,531 2.26 -37.29 16.44 3.91 -0.44 1.03 21.82 -32.36 7.50 SELL 1,100 1,105 -0.45% Pharmaceutical
KLBF IJ Equity 69,375 1.22 9.03 24.95 3.79 2.76 6.34 16.00 3.75 42.56 BUY 2,000 1,480 35.14% KAEF IJ Equity 16,162 0.28 #N/A N/A 2434.81 2.30 #VALUE! 109.22 0.13 148.84 9.97 UR - 2,910 #VALUE! Healthcare
MIKA IJ Equity 40,175 0.71 #N/A #N/A #N/A #N/A 0.00 19.77 26.37 38.07 BUY 3,270 2,820 15.96% Retail
ACES IJ Equity 22,552 0.40 #N/A #N/A #N/A #N/A 15.96 14.86 -9.24 40.03 BUY 1,700 1,315 29.28% ERAA IJ Equity 11,484 0.20 #N/A #N/A #N/A #N/A 40.19 14.90 188.85 45.20 BUY 610 720 -15.28% LPPF IJ Equity 4,648 0.08 #N/A #N/A #N/A #N/A 664.33 -100.33 10.63 69.14 SELL 950 1,770 -46.33% MAPI IJ Equity 11,952 0.21 #N/A #N/A #N/A #N/A 104.50 -9.47 -7.10 43.97 HOLD 800 720 11.11% RALS IJ Equity 4,612 0.08 #N/A N/A #N/A N/A 1.21 #VALUE! 16.09 -6.08 12.13 37.08 BUY 880 650 35.38% Heavy Equipment
Selasa, 22 Juni 2021
L A P O R A N H A R I A N
4
RESEARCH
Equity
RESEARCH TEAM
Phone : +62 21 25543946 (Hunting) Fax : +62 21 57935831 Email : research@bnisekuritas.co.id Website : www.bnisekuritas.co.idDamhuri Nasution damhuri.nasution@bnisekuritas.co.id Head of Research Division & Economist Ext. 3993
Kim Kwie Sjamsudin kim.kwie@bnisekuritas.co.id Head of Equity Research Department Ext. 3997
(Strategy, Automotive, Cement, Infrastructure)
Ariawan ariawan@bnisekuritas.co.id Head of Fixed Income Research Dept. Ext. 2098
(Fixed Income Market, Corporate & Government Bond) Andri Zakarias Siregar andri.zakarias@bnisekuritas.co.id Head of Technical Analysis Research Dept. Ext. 2054
(Market Strategy, Currency, Commodities, Bond & Stocks) Aurellia Setiabudi aurellia.setiabudi@bnisekuritas.co.id Deputy Head of Equity Research Department
(Property, Pharmaceutical, Healthcare, Cigarette)
Maxi Liesyaputra maxi@bnisekuritas.co.id AVP Equity Analyst Ext. 3968
(Cement, Construction, Precast Concrete)
Handri Thiono handri.thiono@bnisekuritas.co.id Economist Ext. 2030
Ahmad Hapiz ahmad.hapiz@bnisekuritas.co.id Fixed Income Analyst Ext. 3978
(Fixed Income Market, Corporate & Government Bond) William Ardian Siregar william.siregar@bnisekuritas.co.id Equity Analyst Ext. 3986
(Consumer, Retail)
Posmarito Pakpahan posmarito.pakpahan@bnisekuritas.co.id Equity Analyst Ext. 3981
(Banking, Telecommunication, Multifinance)
Firman Hidayat firman.hidayat@bnisekuritas.co.id Equity Analyst Ext. 2034
(Automotive, Coal, Metal, Heavy Equipment, Plantation) Erlangga Aditya Guntoro erlangga.aditya@bnisekuritas.co.id Equity Analyst Ext. 2036
(Toll Road, Poultry, Media)
R. Venia Allani Meissalina venia.allani@bnisekuritas.co.id Research Administrator Ext. 2050
Selasa, 22 Juni 2021
L A P O R A N H A R I A N
5
RESEARCH
Equity
EQUITY TEAM
CM : +62 21 25543946 (Hunting) Fax No : +62 21 57935831Reynard Poernawan ext. 3988 reynard.poernawan@bnisekuritas.co.id Head of Equity Sales Anthon Suryasaputra ext. 3973 anthon@bnisekuritas.co.id Head of Equity Sales Trading Teguh Hendro Karno ext. 3948 teguh@bnisekuritas.co.id Institutional Sales Trader Yulinda ext. 3950 yulinda@bnisekuritas.co.id Institutional Sales Trader M. Rudi Riyanto ext. 3919 mrudi@bnisekuritas.co.id Institutional Sales Trader Ardy Fardiansyah ext. 3969 ardy.fardiansyah@bnisekuritas.co.id Institutional Sales Trader Entis Sutisman ext. 3951 entis@bnisekuritas.co.id AVP Institutional Sales Ika Agustina ext. 2131 ika.agustina@bnisekuritas.co.id Equity Sales
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RESEARCH
Equity
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Dokumen ini tidak diperuntukan sebagai suatu penawaran, atau permohonan dari suatu penawaran, permintaan untuk membeli atau menjual efek dan segala hal yang berhubungan dengan efek (seperti efek yang disebutkan disini, atau dari emiten yang sama, dari waran atau hak memesan efek atau kepentingan lain dari efek tersebut). Seluruh informasi dan opini yang terdapat dalam dokumen ini dengan cara baik telah dihimpun dari atau berasal dari sumber-sumber yang dapat dipercaya dan diandalkan. Tidak ada pengatasnamaan atau jaminan, baik secara langsung maupun tidak langsung dari BNI SEKURITAS atau pun pihak-pihak lain dari Grup BNI, termasuk pihak-pihak lain dari Grup BNI dari mana dokumen ini dapat diperoleh, terhadap keakuratan atau kelengkapan dari informasi yang terdapat dalam dokumen ini. Seluruh pendapat dan perkiraan dalam laporan ini merupakan pertimbangan kami pada tanggal tertera dan dapat berubah sewaktu-waktu tanpa pemberitahuan.
