Jumat, 9 April 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
KLBF: Poised for stronger growth ahead
Key Highlights:
FY20 growth drivers – the plus and negatives
Saliva-based Covid-19 test kits – more appealing?
Kalbe’s biotech - key predominant segment of its future
growth avenues
Forecast revision, recommendation
Analyst: Erlangga Aditya Guntoro
([email protected])
RINGKASAN BERITA
Lippo Karawaci (LPKR) Optimis 60 Persen Target
Marketing Sales Tercapai Sebelum Juli. PT Lippo
Karawaci Tbk (LPKR) optimistis tingkat prapenjualan
akan terus meningkat pada kuartal II/2021. Hal itu
ditopang oleh pandemi Covid-19 yang mulai mereda
serta perbaikan iklim investasi Tanah Air. Direktur
Keuangan Lippo Karawaci Yudhistira Rusli menjelaskan
pihaknya optimistis dapat merealisasikan 60 persen dari
target marketing sales tahun ini sebelum semester
I/2021 berakhir. “Proyek utama yang akan mendorong
pemasaran penjualan pada kuartal II 2021 hingga akhir
tahun yakni rumah tapak baru di Lippo Village dan di
Waterfront Estates yang merupakan segmen perumahan
yang terjangkau,” kata Yudistira dalam keterangan
resmi, Kamis (8/4/2021). LPKR menargetkan marketing
sales senilai Rp3,5 triliun pada 2021. Hingga kuartal
pertama, LPKR telah merealisasikan pendapatan
prapenjualan sebesar 37,42 persen dari target atau
Rp1,31 triliun. Yudhistira memperkirakan pihaknya akan
dapat menjual senilai Rp300 miliar dari proyek
apartemen yang sedang berjalan karena semua
konstruksi ditargetkan rampung pada awal kuartal
II/2021. Pada kuartal I/2021, Yudhistira menunjukkan
empat dari enam proyek apartemen milik LPKR sudah
diselesaikan. Saat ini progres pembangunan dua proyek
lainnya yaitu Holland Village Jakarta dan Embarcadero
sudah lebih dari 95 persen. “Serta didukung juga oleh
penjualan yang kuat di San Diego Hills sebesar Rp260
miliar,” imbuh Yudhistira. (Bisnis Indonesia)
Global Indices Closing Change %Chg %Ytd P/E Americas INDU Index 33,503.57 57.31 0.17 9.47 29.66 SPX Index 4,097.17 17.22 0.42 9.08 33.26 CCMP Index 13,829.31 140.47 1.03 7.30 74.42 IBOV Index 118,313.20 689.6 0.59 (0.59) 28.76 EMEA UKX Index 6,942.22 56.9 0.83 7.46 95.98 CAC Index 6,165.72 35.06 0.57 11.07 55.90 DAX Index 15,202.68 26.32 0.17 10.82 49.85 IBEX Index 8,637.80 40.4 0.47 6.99 #N/A N/A FTSEMIB Index 24,576.51 -164.22 -0.66 10.54 3.88 AEX Index 713.38 3.3 0.46 14.21 1,200.82 SMI Index 11,206.88 78.7 0.71 4.70 25.15 Asia / Pacific NKY Index 29,708.98 -21.81 -0.07 8.25 33.84 KOSPI Index 3,143.26 5.85 0.19 9.39 27.74 SHCOMP Index 3,482.56 2.93 0.08 0.27 17.86 HSI Index 29,008.07 333.27 1.16 6.53 15.04 TWSE Index 16,926.44 111.08 0.66 14.89 22.46 SENSEX Index 49,746.21 84.45 0.17 4.18 34.83 SET Index 1,558.83 2.27 0.15 7.55 39.01 PCOMP Index 6,545.17 -106.54 -1.60 (8.33) 25.09 KLCI Index 1,602.40 1.81 0.11 (1.52) 20.66 FSSTI Index 3,186.40 -9.36 -0.29 12.05 47.88 JCI Index 6,071.72 35.108 0.58 1.55 22.79 Description Last Previous %Chg Market Capitalization (IDR Trillion) 7,173.15 7,130.62 0.60 Transaction Volume (Million Shares) 18,170.00 16,734.59 8.58 Transaction Value (IDR Million) 9,129.00 8,158.26 11.90 Stocks Value (IDR) 502.42 487.51 3.06 Net Foreign (IDR Million) (500,908.75) (588,197.25) -14.84 Commodities Last Previous %Chg Nickel (US$/Ton) 16,636.00 16,740.00 -0.62 Copper (US$/Ton) 8,915.50 9,047.00 -1.45 Tins (US$/Ton) 25,790.00 25,815.00 -0.10 Oil (US$/BBL) (*) 59.60 59.77 -0.28 Gas (US$/MMBTU) 2.21 2.17 1.93 Coal (US$/Ton) (**) 93.80 94.70 -0.95 CPO MALAYSIA(RM/ton) 4,215.00 4,174.50 0.97 Gold (US$/Troy Ounce) 1,755.82 1,755.84 0.00 JCI Sectors Performance Weighting (%) YTD Chg (%) 1D Chg (%)
JCI Index 100.00 1.55 1.44
Finance 38.79 3.65 0.68
Consumer Goods 13.82 -7.67 -0.12 Infrastructure Utility and Transportation 10.93 4.61 0.72 Basic Industry and Chemicals 11.60 5.93 2.30 Trade Services and Investment 9.45 14.37 4.79
Mining 6.41 -3.60 4.59
Construction Property and Real Estate 5.16 -8.44 0.04 Miscellaneous Industries 4.24 -7.49 0.74 Agricultural 1.46 -3.79 3.85
Jumat, 9 April 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
0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 0 5,000,000 10,000,000 15,000,000 20,000,000 10 /1 /2 020 10 /7 /2 020 10 /1 3/2020 10 /1 9/20 20 10 /2 3/2020 11 /3 /2 020 11 /9 /2 020 11 /1 3/2020 11 /1 9/2020 11 /2 5/2020 12 /1 /2 020 12 /7 /2 020 12 /1 4/2020 12 /1 8/2020 12 /2 8/2020 1/5/ 20 21 1/11 /2 021 1/15 /2 021 1/21 /2 021 1/27 /2 021 2/2/ 20 21 2/8/ 20 21 2/15 /2 021 2/19 /2 021 2/25 /2 021 3/3/ 20 21 3/9/ 20 21 3/16 /2 021 3/22 /2 021 3/26 /2 021 4/1/ 20 21Accumulation 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 10/1/2020 11/1/2020 12/1/2020 1/1/2021 2/1/2021 3/1/2021 4/1/2021
JCI Index USDIDR
0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000
Oct-20 Oct-20 Nov-20 Dec-20 Dec-20 Jan-21 Feb-21 Feb-21 Mar-21 Apr-21
Volume JCI Index
No
Stock
Top Value (IDR)
1
ANTM IJ
795,844,700,000
2
BBCA IJ
761,066,200,000
3
BBRI IJ
621,622,300,000
4
BMRI IJ
278,054,100,000
5
ASII IJ
232,508,100,000
No
Stock
Top Volume (Shares)
1
FREN IJ
2,152,352,000.00
2
BABP IJ
671,838,200.00
3
BUMI IJ
421,986,600.00
4
ENRG IJ
381,119,100.00
5
BKSW IJ
341,100,500.00
No
Top Gainers
% Change
1
CITY IJ
34.51
2
RODA IJ
33.78
3
MYTX IJ
27.85
4
BBHI IJ
25
5
PTIS IJ
25
No
Top Losers
% Change
1
POLU IJ
-7
2
TRUK IJ
-6.99
3
SKRN IJ
-6.98
4
CLAY IJ
-6.97
5
RELI IJ
-6.86
No Leading Movers
% Change
1
BBRI IJ
3.57
2
BRIS IJ
8.93
3
BRPT IJ
4.08
4
UNVR IJ
1.15
5
TPIA IJ
1.37
No Lagging Movers
% Change
1
BBCA IJ
-1.84
2
EMTK IJ
-3.23
3
TCPI IJ
-5.94
4
BMRI IJ
-0.79
Jumat, 9 April 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 756,292 13.30 -5.09 27.87 4.10 -5.48 6.97 15.13 12.69 44.88 BUY 34,200 30,675 11.49% BBNI IJ Equity 108,162 1.90 -78.66 32.50 0.98 -0.41 53.54 2.82 45.74 39.98 NOT RATED - 5,800 #VALUE! BBRI IJ Equity 536,463 9.43 -45.97 28.59 2.70 -0.62 68.12 9.24 57.89 43.22 HOLD 4,100 4,350 -5.75% BMRI IJ Equity 292,833 5.15 -37.71 17.10 1.55 -0.45 51.96 8.70 36.06 37.95 BUY 7,250 6,275 15.54% Cement
SMGR IJ Equity 60,798 1.07 16.87 21.79 1.78 1.29 67.19 8.40 32.27 48.99 BUY 11,000 10,250 7.32% Telecommunication
TLKM IJ Equity 335,821 5.91 3.50 17.78 3.30 5.08 44.42 18.76 14.51 47.91 BUY 4,000 3,390 17.99% ISAT IJ Equity 36,407 0.64 #N/A N/A #N/A N/A 3.07 #VALUE! 215.44 -5.83 248.96 20.71 BUY 3,265 6,700 -51.27% EXCL IJ Equity 23,165 0.41 -47.76 63.27 1.20 -1.32 175.72 1.94 -1.50 33.64 BUY 3,500 2,160 62.04% Automotive
ASII IJ Equity 214,563 3.77 6.86 13.27 1.38 1.93 40.66 10.65 42.90 49.81 BUY 7,000 5,300 32.08%
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 13,276 0.23 -91.87 71.40 0.97 -0.78 157.75 1.23 35.39 34.94 BUY 1,400 1,480 -5.41% ADHI IJ Equity 3,828 0.07 -96.24 159.60 0.69 -1.66 175.28 0.39 87.86 48.99 BUY 840 1,075 -21.86% PTPP IJ Equity 8,122 0.14 -84.09 63.54 0.76 -0.76 132.47 1.15 92.17 48.95 BUY 1,175 1,310 -10.31% WSKT IJ Equity 14,321 0.25 -76.33 #N/A N/A 1.07 #VALUE! 237.92 -18.09 70.94 33.95 HOLD 775 1,055 -26.54% WTON IJ Equity 2,667 0.05 -75.01 20.58 0.80 -0.27 82.24 3.79 19.53 32.16 BUY 320 306 4.58% WSBP IJ Equity 5,246 0.09 -22.85 #N/A N/A 0.85 #VALUE! 74.76 -12.46 31.06 32.98 UR UR 199 #VALUE! Toll Road
JSMR IJ Equity 31,064 0.55 0.20 36.02 1.65 176.31 185.14 4.67 44.14 24.39 BUY 5,300 4,280 23.83% Property
BSDE IJ Equity 25,194 0.44 -90.62 93.34 0.83 -1.03 49.67 0.95 48.75 38.63 BUY 890 1,190 -25.21% PWON IJ Equity 26,006 0.46 6.95 22.22 1.82 3.20 26.51 8.14 42.11 31.29 HOLD 445 540 -17.59% SMRA IJ Equity 14,138 0.25 -65.07 78.60 2.07 -1.21 104.10 2.53 102.48 65.14 SELL 615 980 -37.24%
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 19,632 0.35 294.60 23.57 1.05 0.08 29.22 4.47 60.94 20.32 HOLD 8,300 10,200 -18.63% TBLA IJ Equity 4,915 0.09 3.34 7.25 0.87 n.a 149.97 10.56 80.75 44.65 BUY 1,185 920 28.80% Metal
ANTM IJ Equity 59,356 1.04 492.69 51.64 3.12 0.10 40.72 6.18 377.21 34.95 BUY 900 2,470 -63.56% INCO IJ Equity 47,893 0.84 43.10 39.86 1.63 0.92 0.00 4.18 118.10 20.49 BUY 4,500 4,820 -6.64% TINS IJ Equity 12,065 0.21 45.12 #N/A N/A 2.44 #VALUE! 126.55 -6.68 230.61 35.00 BUY 1,200 1,620 -25.93% Coal
PTBA IJ Equity 29,262 0.51 -42.59 9.07 2.09 -0.21 5.50 13.63 45.55 31.20 BUY 2,750 2,540 8.27% Consumer
UNVR IJ Equity 251,790 4.43 #N/A #N/A #N/A #N/A 80.51 140.20 -5.11 15.01 BUY 9,400 6,600 42.42% INDF IJ Equity 58,609 1.03 #N/A #N/A #N/A #N/A 67.62 16.11 11.39 49.92 BUY 9,200 6,675 37.83% ICBP IJ Equity 102,625 1.80 30.79 15.58 3.49 0.51 63.03 24.07 -6.19 19.47 BUY 11,800 8,800 34.09% GGRM IJ Equity 71,287 1.25 -29.71 9.32 1.22 -0.31 10.57 13.97 -21.17 23.78 BUY 56,000 37,050 51.15% HMSP IJ Equity 159,356 2.80 -37.29 18.46 5.27 -0.50 1.03 26.04 -9.10 7.50 HOLD 1,900 1,370 38.69% Pharmaceutical
KLBF IJ Equity 73,360 1.29 9.03 26.84 4.21 2.97 6.34 16.42 39.22 42.56 HOLD 1,815 1,565 15.97% KAEF IJ Equity 14,218 0.25 #N/A N/A 806.26 2.03 #VALUE! 109.22 0.25 91.04 9.97 UR - 2,560 #VALUE! Healthcare
MIKA IJ Equity 37,183 0.65 #N/A #N/A #N/A #N/A 0.00 18.27 36.43 38.07 BUY 2,980 2,610 14.18% Retail
ACES IJ Equity 25,982 0.46 #N/A #N/A #N/A #N/A 0.00 17.88 24.06 40.03 SELL 1,400 1,515 -7.59% LPPF IJ Equity 4,149 0.07 #N/A #N/A #N/A #N/A 664.33 -75.02 19.70 69.49 SELL 1,250 1,580 -20.89% MAPI IJ Equity 13,363 0.23 #N/A #N/A #N/A #N/A 25.69 -5.62 42.48 43.97 HOLD 690 805 -14.29% RALS IJ Equity 5,641 0.10 10.07 #N/A N/A 1.43 #VALUE! 0.00 -1.52 45.27 37.08 HOLD 590 795 -25.79% Heavy Equipment
Jumat, 9 April 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 protected]
Website
: www.bnisekuritas.co.id
Damhuri Nasution
[email protected]
Head of Research Division & Economist
Ext. 3993
Kim Kwie Sjamsudin
[email protected]
Head of Equity Research Department
Ext. 3997
(Strategy, Automotive, Cement, Infrastructure)
Ariawan
[email protected]
Head of Fixed Income Research Dept.
Ext. 2098
(Fixed Income Market, Corporate & Government Bond)
Andri Zakarias Siregar
[email protected]
Head of Technical Analysis Research Dept.
Ext. 2054
(Market Strategy, Currency, Commodities, Bond & Stocks)
Aurellia Setiabudi
[email protected]
Deputy Head of Equity Research Department
(Property, Pharmaceutical, Healthcare, Cigarette)
Maxi Liesyaputra
[email protected]
AVP Equity Analyst
Ext. 3968
(Cement, Construction, Precast Concrete)
Handri Thiono
[email protected]
Economist
Ext. 2030
Ahmad Hapiz
[email protected]
Fixed Income Analyst
Ext. 3978
(Fixed Income Market, Corporate & Government Bond)
William Ardian Siregar
[email protected]
Equity Analyst
Ext. 3986
(Consumer, Retail)
Posmarito Pakpahan
[email protected]
Equity Analyst
Ext. 3981
(Banking, Telecommunication, Multifinance)
Firman Hidayat
[email protected]
Equity Analyst
Ext. 2034
(Automotive, Coal, Metal, Heavy Equipment, Plantation)
Erlangga Aditya Guntoro
[email protected]
Equity Analyst
Ext. 2036
(Toll Road, Poultry, Media)
R. Venia Allani Meissalina
[email protected]
Research Administrator
Ext. 2050
Jumat, 9 April 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 57935831
Reynard Poernawan
ext. 3988
[email protected] Head of Equity Division
Anthon Suryasaputra
ext. 3973
[email protected]
Head of Equity Sales Trading
Teguh Hendro Karno
ext. 3948
[email protected]
Institutional Sales Trader
Yulinda
ext. 3950
[email protected]
Institutional Sales Trader
M. Rudi Riyanto
ext. 3919
[email protected]
Institutional Sales Trader
Ardy Fardiansyah
ext. 3969
[email protected]
Institutional Sales Trader
Entis Sutisman
ext. 3951
[email protected]
AVP Institutional Sales
Ika Agustina
ext. 2131
[email protected]
Equity Sales
Evi nurhafiza
ext. 3929
[email protected]
Equity Sales
Jufrani Amsal
ext. 3957
[email protected]
Head of Channel Distribution Division
Fahma Riniarti
ext. 3917
[email protected]
Head of Channel Development
P. Sariningsih
ext. 3984
[email protected]
Head of Branch Supervision
Teuku Hafez
ext. 2084
[email protected]
Branch Manager Mangga Dua, Jakarta
Hapsari
ext. 2078
[email protected]
Branch Manager Puri Indah, Jakarta
Fadjar Harjo Suseno
ext. 2111
[email protected]
Branch Manager Central Park, Jakarta
M. Yasrul
ext. 2081
[email protected]
Branch Manager Wisma Bumiputera
Fahmi Lubis
ext. 2079
[email protected]
Branch Manager Bandung
Rifaat Annur
ext. 2091
[email protected]
Branch Manager Yogyakarta
Agus Purwanto
ext. 2090
[email protected]
Branch Manager Solo
Achmad Ridwan
ext. 2088
[email protected]
Branch Manager Surabaya
Edith Febriana
ext. 2082
[email protected]
Branch Manager Malang
Ni Nyoman Citasti
ext. 2080
[email protected]
Branch Manager Denpasar
Nirmasari Nasution
ext. 2083
[email protected]
Branch Manager Medan
Ari Magdalena
ext. 2086
[email protected]
Branch Manager Palembang
Rini Wati
ext. 2085
[email protected]
Branch Manager Pekanbaru
Susan J Mengko
ext. 2102
[email protected]
Branch Manager Manado
Melisa
ext. 2136
[email protected]
Branch Manager Aceh
RESEARCH
Equity
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JAKARTA - Wisma Bumiputera
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Phone: (62-21) 2523349 Fax: (62-21) 2523350 e-mail: [email protected] BANDUNG Jl. Perintis Kemerdekaan 3 Bandung - 40117 Phone: (62-22) 4213375 Fax: (62-22) 4220604 e-mail: [email protected] YOGYAKARTA
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DENPASAR
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MEDAN
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PALEMBANG
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PEKANBARU
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MANADO
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Phone: (62-431) 847256 Fax: (62-24) 847256 e-mail: [email protected]
ACEH
Kantor Cabang BNI Banda Aceh Lt.2 Jl. KH. Ahmad Dahlan No. 111, Banda Aceh
Phone: (62-651) 31109 Fax: (62-651) 31107
BANJARMASIN
Gd. Bank BNI Antasari Lt. 2 Jl. Pangeran Antasari No. 44 RT 008, Banjarmasin
Phone: (62-511) 3253735 Fax: (62-651) 3253754 e-mail: [email protected]
This document is not intended to be an offer, or a satisfaction of an offer, to buy or sell relevant securities (i.e. securities mentioned herein or of the same issuer and options, warrants or rights to or interest in any such securities). The information and opinions contained in this document have been compiled from or arrived at in good faith from sources believed to be reliable. No representation or warranty, expressed or implied, is made by BNI SEKURITAS or any other member of the BNI Group, including any other member of the BNI Group from whom this document may be received, as to the accuracy or completeness of the information contained herein. All opinions and estimates in this report constitute our judgment as of this date and are subject to change without notice.
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