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OSODaily 05 Februari 2020

ODAY TOP STOCK TRADED (LQ45)

JAKARTA COMPOSITE INDEX

5.922,34 38,17

0,65%

Previous 5.884,17 Lowest

5.911,38 Highest 5.952,95 Val IDR bn

7.550

Volbn 7.303 Mkt Cap IDRtr

6.843,84 Net Forg 1DIDRbn 143,46 Net ForgYTDIDRbn

(652,88)

Return YTD (%) (5,99) Month to date (%)

(0,30)

Indices

Last Chg% YTD% Americas

Dow Jones United States 28.807,63 1,44 13,36 S&P 500 United States 3.297,59 1,50 20,45 Nasdaq United States 9.467,97 2,10 27,91 EIDO United States 24,48 1,37 (10,56) EMEA

FTSE 100 United Kingdom 7.439,82 1,55 3,66

CAC 40 France 5.935,05 1,76 16,75 D DAX Germany 13.281,74 1,81 16,83

Asia Pacific

Nikkei Japan 22.971,94 0,49 10,54 Shanghai China 2.746,61 1,34 6,30 TWSE Taiwan 11.354,92 1,77 16,35 KOSPI Korea 2.118,88 1,84 (2,07) KLSE Malaysia 1.521,95 0,91 (8,78) ST – Times Singapore 3.116,31 1,38 (0,80) Sensex India 39.872,31 2,15 11,33 Hangseng Hongkong 26.356,98 1,21 (4,70)

Sectoral Previous Last Chg% YTD% AGRICULTURE 1.299,90 1.299,01 (0,07) (14,79) MINING 1.389,87 1.400,05 0,73 (9,59) MISC INDUSTRY 1.106,01 1.124,56 1,68 (8,11) BASIC INDUSTRY 869,21 870,90 0,19 (10,96) CONSUMER GOODS 1.975,82 1.982,59 0,34 (3,41) PROPERTY 446,29 446,61 0,07 (11,37) INFRASTRUKTUR 1.025,14 1.026,69 0,15 (9,74) FINANCE 1.310,82 1.328,27 1,33 (1,95) MANUFAKTURE 1.356,36 1.363,18 0,50 (6,68) TRADE 716,15 712,54 (0,50) (7,44) LQ 45 953,26 964,84 1,21 (4,89)

Commodities Previous Lastest Chg% YTD%

Oil (USD/bbl) 50,11 49,61 (1,00) (18,49) Gold (USD tr.oz) 1.576,73 1.552,92 (1,51) 2,54 Nickel (USD/mtrc ton) 12.725,00 12.830,00 0,83 (8,52) Tin (USD/mtrc ton) 16.205,00 16.325,00 0,74 (4,95) Copper (USD/mtrc ton) 5.525,00 5.618,00 1,68 (9,01) CPO (MYR/ton) 2.670,00 2.717,00 1,76 (10,65) Coal (USD/ton) 69,45 69,45 - 2,51

Currencies

Last Chg% YTD% IDR / USD

13.715,00 (0,44) 1,10

IDR / AUD

9.215,52 (0,78) 5,45 IDR / EUR

15.165,56 (0,76) 2,56

IDR /SGD

10.007,13 0,25 3,01 IDR / JPY

125,79 (0,29) 1,53

IDR / GBP

17.811,09 0,73 2,31 Global Macro Economics CB Rate CPI YoY GDP YoY United States 1,75 2,30 2,30 Euro Area 0,00 1,40 1,00 United Kingdom 0,75 1,30 1,10 Japan 0,10 0,80 1,70 China 4,35 4,50 6,00 Domestic macro Economics 1,75 2,30 2,30 Jibor 5,00 (15,02) 28,20 GovBonds (5y) 6,00 (1,15) (6,73) GovBonds (10y) 6,63 (1,05) (6,17)

Inflasi YoY 0,39

Inflasi MoM 0,39 Bi rate 5,00 GDP Growth YoY (%) 5,02

Foreign Reserve (Bn) 129,18 Government Bonds Yield% Wow% Ytd% 7 Year 6,63 6,64 6,64 15 Year 7,17 7,17 7,17 20 Year 7,35 7,35 7,35 30 Year 7,60 7,60 7,60

Source: Bloomberg LP & OSO Research Team

Market Review Pada perdagangan kemarin (04/02) IHSG ditutup rebound sebesar 0.65% ke level 5.922.34. Delapan dari sepuluh indeks sektoral ditutup dalam zona hijau, dimana sektor aneka industri dan keuangan memimpin penguatan masing-masing sebesar 1.68% dan 1.33%. Adapun saham yang menjadi penggerak indeks diantaranya ; BBCA, BBRI, ASII, BBNI, ICBP. Pelaku pasar asing membukukan aksi beli bersih (Netbuy) senilai Rp 143 miliar. Nilai tukar rupiah terdepresiasi sebesar 0.44% ke level 13,715. Global Review Pada perdagangan semalam (04/02) bursa saham Wall Street kompak ditutup dalam teritori positif, dimana Nasdaq naik sebesar 2.1%, kemudian S&P 500 dan Dow Jones masing-masing naik sebesar 1.5% dan 1.4%. Penguatan tersebut masih ditopang data ekonomi dari Amerika Serikat (AS) yang kian membaik, kali ini dari data pesanan barang baru AS bulan desember 2019 yang mencatatkan pertumbuhan sebesar 1.8% secara bulanan dibandingkan sebelumnya yang turun sebesar 1.2%. Selain itu, sentimen positif dari global yakni adanya rilis laporan keuangan emiten dari China di tahun 2019 yang mayoritas berhasil mencatatkan pertumbuhan. JCI Prediction IHSG ditutup turun sebesar 0.65% ke level 5.922. IHSG ditutup bearish candle. Adapun indikator Stochastic konsolidasi dan MACD histogram bergerak ke arah positif dengan Volume meningkat. Kami perkirakan IHSG bergerak menguat dengan pergerakan di kisaran 5.870 – 5.992. Major Economic Release

Construction PMI United Kingdom bulan

Januari naik ke level 46.4 dari sebelumnya

di level 44.4

Factory Orders United States pada

Desember 2019 naik sebesar 1.8%

dibandingkan sebelumnya turun sebesar

1.2% (MoM).



TODAY TOP STOCK TRADED (LQ45)

Top Gainers

Last Chg% YTD% MC (T) Beta

BSDE IJ Equity

1.150 4,55 (8,37) 22,13 1,64

ADRO IJ Equity

1.270 3,67 (18,33) 40,62 1,51

SCMA IJ Equity

1.415 3,28 0,35 20,91 1,49

BBNI IJ Equity

7.350 3,16 (6,37) 137,07 1,64

PWON IJ Equity

525 2,94 (7,89) 25,28 1,44

Top Losers

Last Chg% YTD% MC (T) Beta

PGAS IJ Equity

1.520 (10,59) (29,95) 36,85 1,70

LPPF IJ Equity

2.980 (5,10) (29,22) 8,36 0,84

MNCN IJ Equity

1.560 (3,41) (4,29) 22,27 1,06

INDY IJ Equity

900 (1,64) (24,69) 4,69 1,48

UNTR IJ Equity

18.775 (1,57) (12,78) 70,03 0,94

Top Volume

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

SRIL IJ Equity

216 168,2 (16,9) 4,42 0,73

PGAS IJ Equity

1.520 166,4 (30,0) 36,85 1,70

BBRI IJ Equity

4.560 108,7 3,6 562,46 1,59

TLKM IJ Equity

3.760 77,1 (5,3) 372,47 0,79

BMRI IJ Equity

7.525 68,4 (2,0) 351,17 1,59

Top Value

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

BBCA IJ Equity

33.000 988,7 (1,3) 813,62 1,02

BBRI IJ Equity

4.560 600,0 3,6 562,46 1,59

BMRI IJ Equity

7.525 328,4 (2,0) 351,17 1,59

TLKM IJ Equity

3.760 257,0 (5,3) 372,47 0,79

ASII IJ Equity

6.400 221,0 (7,6) 259,09 1,32

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

BENCHMARK INDICES COMPARISON Indices Country Latest P/E PBV Target 2020F Asia Pacific

IHSG

Indonesia 5.922 18,52 1,95 7.172

Nikkei

Japanese 23.085 18,46 1,74 25.483

Shanghai

China 2.783 13,25 1,35 3.324

TWSE

Taiwan 11.556 18,25 1,72 12.859

KOSPI

Korea 2.158 18,57 0,84 2.716

KLSE

Malaysia 1.536 17,67 1,54 1.712

ST - Times

Singapore 3.159 11,86 1,07 3.541

Sensex

India 40.716 24,37 3,18 46.859

Hangseng

Hongkong 26.676 10,42 1,16 32.405

JAKARTA COMPOSITE INDEX MOVERS

Movers

Latest Chg% YTD% MC (T) Beta

BBCA IJ Equity

33000 2,48 (1,27) 814 1,02

BBRI IJ Equity

4560 2,24 3,64 562 1,59

ASII IJ Equity

6400 1,99 (7,58) 259 1,32

BBNI IJ Equity

7350 3,16 (6,37) 137 1,64

ICBP IJ Equity

11600 1,75 4,04 135 0,56

Laggard


MEGA IJ Equity

5400 (14,29) (0,79) 38 (0,65)

PGAS IJ Equity

1520 (10,59) (29,95) 37 1,70

MLBI IJ Equity

14000 (9,68) - 29 0,17

MPRO IJ Equity

1100 (19,12) (13,04) 11 (0,19)

INPP IJ Equity

795 (20,10) 22,62 9 (0,42)

Movers


OSO MANAJEMEN INVESTASI

Mutual Fund Latest 1 Month (%) YTD% Oso Sustainability Fund

1.283,48 (7,50) (7,08)

Oso Syariah Equity Fund

530,12 (8,74) (6,29)

Source: Bloomberg LP & OSO Research Team



COMPARATION OF JCI PERFORMANCE (SEAG)


OSODaily 05 April 2019


MACRO ECONOMIC & INDUSTRY NEWS

Badan Pusat Statistik (BPS) mencatat inflasi pada bulan Januari 2020 sebesar 0,39% month on month (mom) dan secara tahunan, tercatat 2,68% year on year (yoy). Menurut Bank Indonesia (BI), capaian inflasi tersebut masih tetap rendah dan terkendali.Inflasi pada bulan awal 2020 ini disebabkan oleh meningkatnya inflasi makanan bergejolak (volatile food) yang disebabkan oleh kenaikan harga beberapa komoditas pangan.

Jumlah penumpang yang bepergian menggunakan angkutan udara dalam penerbangan domestik, rupanya masih meningkat pada bulan Desember 2019 lalu. Badan Pusat Statistik (BPS) mencatat jumlah penumpang domestik yang bepergian naik pesawat sebanyak 6,98 juta penumpang.Jumlah ini meningkat 5,26% mom dari bulan November 2019 yang mencatat 6,63 juta penumpang yang memilih transportasi udara dalam penerbangan domestik.

Bank sentral China menurunkan suku bunga revers repo pada hari ini. Tetapi langkah itu dinilai "terlalu marjinal" untuk meningkatkan kegiatan ekonomi setelah wabah virus corona merebak. People's Bank of China (PBOC) mengatakan di situs webnya bahwa mereka menurunkan tingkat reverse repo tujuh hari menjadi 2,40% dari 2,50%, dan sementara untuk tenor 14 hari menjadi 2,55% dari 2,65%.

CORPORATES NEWS

PT Indofarma Tbk (INAF), melakukan pengalihan 2,49 miliar saham seri B milik Negara Republik Indonesia. Saham tersebut dialihkan untuk tambahan penyertaan modal negara di PT Bio Farma. Dengan adanya pengalihan saham ini, maka 80,664% saham seri B kini dimiliki oleh PT Bio Farma. Sementara 19,336% lainnya dimiliki oleh publik.

PT Phapros Tbk menargetkan akan meluncurkan 12 produk baru pada tahun ini. Produk baru tersebut terdiri atas produk obat ataupun alat kesehatan. Saat ini, PEHA tengah mengurus tahapan-tahapan yang harus dilalui agar kedua belas produk baru tersebut bisa dipasarkan secara komersil.

Tren penurunan harga batubara yang masih berlanjut sepanjang tahun ini tidak menyurutkan ekspansi bisnis PT ABM Investama Tbk (ABMM) yang tengah mengkaji potensi lahan-lahan tambang baru untuk mereka akuisisi pada tahun ini.

PT Adaro Energy Tbk sedang memaksimalkan lini bisnis pendukung, seperti pembangkit listrik. ADRO berupaya memperkuat lini bisnis pembangkit listrik tenaga uap (PLTU) yang dikelola anak usahanya, yakni PT Adaro Power.

PT Sawit Sumbermas Sarana Tbk (SSMS) memprediksi, cuaca di Indonesia akan kembali normal pada 2020. Dengan begitu, kondisi kebun kelapa sawit dapat kembali optimal sehingga produksi CPO perusahaan bakal membaik. SSMS memperkirakan produksi tandan buah segar (TBS) inti pada 2020 dapat mencapai 1,73 juta ton dengan target CPO sebanyak 600.000 ton.

PT Mitra Adiperkasa Tbk (MAPI) menandatangani perjanjian kemitraan dengan perusahaan kecantikan global Amorepacific Group. Di bawah naungan PT Kosmetik Lestari Adiperkasa, anak usaha MAPI, merek-merek Amorepacific akan dipasarkan di Indonesia.

Mitsubishi UFJ Group (MUFG) Inc mencatat kerugian kuartalan pertamanya dalam satu dekade terakhir. Akuisisi PT Bank Danamon Indonesia Tbk (BDMN) ditengarai jadi penyebabnya.

Sumber: Kontan, Bisnis Indonesia, Iqplus

NOTE: Positive Sentiment Negative Sentiment Netral

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

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

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

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

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

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




Technical

Medium/Minor trend : Downtrend MACD line/histogram : Ke Arah Positif Stochastic : Golden Cross Volume : Meningkat

Recommendation : Trading Buy Entry Buy : 1.815 – 1.840 Target Price : 1.865 – 1.885 Support : 1.805 – 1.815 Cutloss : 1.800

DAILY TECHNICAL

BBTN : BTN Telah Kucurkan Rp 111 Triliun KPR Bersubsidi Direktur Utama PT Bank Tabungan Negara Persero Tbk (BTN) Pahala Mansury mengatakan perseroan telah mengucurkan Rp195 triliun Kredit Pemilikan Rumah (KPR), dengan Rp111 triliun di antaranya merupakan KPR bersubsidi. Tujuan dari BTN mengucurkan pembiayaan perumahan adalah untuk memenuhi kebutuhan hunian masyarakat sehingga kualitas hidup masyarakat dapat meningkat.

Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 1.865. Apabila break 1.865 next harga ke level 1.885. Hati-hati jika harga tidak mampu break up atau menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 1.800 jika sudah melewati support 1.805 – 1.815.

BBTN l PE : 14 l PBV : 0,81 l ROE : 5,80 l NPM : 23,35 l DER : 188,00 l Fair Value : 2.230

Souce: OSO Research Team

BUY

NOTE:




Technical

Medium/Minor trend : Downtrend MACD line/histogram : Positif Stochastic : Peluang Golden Cross Volume : Turun

Recommendation : Trading Buy Entry Buy : 990 – 1.005 Target Price : 1.030 – 1.050 Support : 980 – 990 Cutloss : 975

DAILY TECHNICAL

BUY BJBR l PE : 7 l PBV : 0,91 l ROE : 11,98 l NPM : 21,63 l DER : 211,46 l Fair Value : 1.600

BJBR : Bank BJB Terbitkan Surat Utang Rp 1 T Untuk Perkuat Modal PT Bank Pembangunan Daerah Jawa Barat dan Banten (bank bjb) melakukan aksi korporasi Penawaran Umum Berkelanjutan II (PUB II) Obligasi Subordinasi Berkelanjutan di tahun 2020. Direktur Utama bank bjb Yuddy Rendaldi menjelaskan penghimpunan dana ini akan dilakukan dalam dua tahap dan ditargetkan bisa menyerap Rp 1 triliun. Yuddy menyebut tahap I akan dilakukan kuartal I 2020 dengan target Rp 500 miliar melalui dua seri penawaran yaitu seri A (5 tahun) dan seri B (7 tahun).


Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 1.030. Apabila break 1.030 next harga ke level 1.050. Hati-hati jika harga tidak mampu break up atau menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 975 jika sudah melewati support 980 – 990.

NOTE:




Technical

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

Recommendation : Trading Buy Entry Buy : 3.270 – 3.300 Target Price : 3.360 – 3.410 Support : 3.240 – 3.270 Cutloss : 3.230

DAILY TECHNICAL

BUY INCO l PE : 415 l PBV : 1,27 l ROE : 0,29 l NPM : 7,79 l DER : 1,94 l Fair Value : 3.860

Vale Indonesia (INCO) Kebut Perizinan Proyek Hidrometalurgi PT Vale Indonesia Tbk tengah menyelesaikan sejumlah perizinan yang dibutuhkan untuk memulai proyek pembangunan fasilitas permunian bijih nikel dengan teknologi hidrometalurgi di Pomalaa Sulawesi Tenggara. Direktur Keuangan PT Vale Indonesia Tbk. (INCO) Bernardus Irmanto mengatakan pihaknya sedang selesaikan perizinan yang dibutuhkan untuk bisa memulai pekerjaan di lapangan. Adapun waktu konstruksi diperkirakan sekitar 5 tahun.


Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 3.360. Apabila break 3.360 next harga ke level 3.410. Hati-hati jika harga tidak mampu break up atau menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 3.230 jika sudah melewati support 3.240 – 3.270.

NOTE:




Sector Rotation

Mingguan

Bulanan



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 1.250 (0,39) (15,89) 6,92 641,19 16,34 0,21 1,20 98,23 840 -33% Sell

CPIN IJ Equity 6.650 0,81 (3,85) 5,12 28,16 17,48 13,14 19,08 22,95 5.923 -11% Sell

INKP IJ Equity 7.150 - (15,26) 0,65 8,40 2,79 3,57 8,09 113,83 11.300 58% Buy

INTP IJ Equity 17.450 (0,15) (11,43) 2,77 36,40 20,93 6,43 7,58 0,50 20.434 17% Buy

JPFA IJ Equity 1.495 1,02 (3,58) 1,73 11,23 4,55 6,39 16,10 59,63 2.035 36% Buy

SMGR IJ Equity 12.000 0,21 0,21 2,29 31,21 9,16 3,48 7,46 30,13 14.937 24% Buy

TKIM IJ Equity 9.650 0,88 (16,30) 1,42 12,99 15,28 5,01 11,50 120,71 13.000 35% Buy

TPIA IJ Equity 8.950 - (15,66) 6,42 291,02 51,22 1,24 2,17 34,35 6.350 -29% Sell

Industry Average in LQ45 3,42 132,57 17,22 4,93 9,15 60,04

Total of Industry Average 1,51 35,04 8,79 1,75 (11,24) 101,33

SECTOR CONSUMER GOODS

GGRM IJ Equity 56.475 0,36 5,05 2,26 11,55 6,95 13,37 20,54 38,38 59.064 5% Hold

HMSP IJ Equity 2.150 0,49 (1,43) 7,54 17,17 13,01 28,65 44,36 0,33 2.184 2% Hold

ICBP IJ Equity 11.600 1,75 4,04 5,65 27,16 15,86 13,90 22,21 9,06 12.529 8% Buy

INDF IJ Equity 7.950 0,98 (2,21) 1,87 13,94 5,44 5,05 14,20 59,18 9.321 17% Buy

KLBF IJ Equity 1.535 0,68 (8,64) 4,53 27,02 17,78 13,84 17,56 2,34 1.703 11% Buy

UNVR IJ Equity 8.200 0,32 (6,25) 56,88 40,65 26,69 36,08 116,74 75,07 8.473 3% Hold


Total of Industry Average 4,21 29,32 11,33 9,24 5,08 55,60

SECTOR INFRASTRUCTURE

EXCL IJ Equity 2.990 - (9,84) 1,61 130,48 3,02 (4,39) (13,14) 125,77 4.008 34% Buy

JSMR IJ Equity 4.810 2,65 (10,34) 1,86 17,42 5,18 2,28 11,28 157,26 6.585 37% Buy

PGAS IJ Equity 1.810 (10,59) (29,95) 1,03 12,44 2,16 3,09 7,33 109,43 2.389 32% Buy

TLKM IJ Equity 3.890 0,53 (5,29) 3,74 18,39 5,67 9,65 21,31 37,58 4.819 24% Buy


Total of Industry Average 2,17 26,71 9,85 (2,88) (2,32) 131,60

Source: Bloomber LP





SECTOR MINING

ADRO IJ Equity 1.305 3,67 (18,33) 0,77 5,80 2,61 7,10 13,60 32,95 1.502 15% Buy

AKRA IJ Equity 3.350 1,27 (18,99) 1,57 17,77 9,80 4,57 11,23 42,61 4.206 26% Buy

ANTM IJ Equity 745 2,10 (13,10) 0,88 21,81 7,63 2,46 4,12 50,26 1.101 48% Buy

INCO IJ Equity 3.150 1,54 (9,34) 1,27 414,80 19,28 0,25 0,29 1,94 3.869 23% Buy

INDY IJ Equity 975 (1,64) (24,69) 0,38 #N/A N/A 0,84 (1,10) (4,29) 129,53 1.733 78% Buy

ITMG IJ Equity 10.800 1,00 (11,55) 0,89 4,96 2,72 11,77 17,06 - 13.634 26% Buy

MEDC IJ Equity 700 2,22 (20,23) 0,73 9,06 1,46 (0,37) (1,69) 202,38 1.076 54% Buy

PTBA IJ Equity 2.260 2,76 (16,17) 1,44 5,67 4,00 17,59 26,36 5,12 2.806 24% Buy


Total of Industry Average 1,50 36,34 8,02 0,75 (1,86) 95,02

SECTOR MISC INDUSTRY

ASII IJ Equity 6.650 1,99 (7,58) 1,81 12,65 6,65 5,92 14,87 49,27 7.964 20% Buy

SRIL IJ Equity 238 2,86 (16,92) 0,55 3,69 1,46 6,22 15,93 139,64 Neutral #VALUE! #VALUE!



SECTOR PROPERTY

BSDE IJ Equity 1.150 4,55 (8,37) 0,76 7,27 7,76 5,69 11,03 46,06 1.610 40% Buy

CTRA IJ Equity 925 2,87 (13,94) 1,13 16,41 7,01 2,94 7,16 50,80 1.324 43% Buy

PTPP IJ Equity 1.405 (0,36) (13,25) 0,66 7,29 3,09 2,27 9,37 74,03 2.131 52% Buy

PWON IJ Equity 540 2,94 (7,89) 1,75 8,68 7,15 11,59 22,21 36,44 692 28% Buy

WIKA IJ Equity 1.950 2,93 (2,76) 1,10 7,80 4,12 3,72 15,29 78,93 2.672 37% Buy

WSKT IJ Equity 1.260 (1,24) (19,53) 0,89 11,70 3,21 1,04 7,79 224,10 1.818 44% Buy



Source: Bloomber LP





SECTOR TRADE

ERAA IJ Equity 1.670 1,60 (11,70) 1,08 14,22 5,35 3,42 8,28 88,81 2.023 21% Buy

LPPF IJ Equity 3.400 (5,10) (29,22) 4,66 10,72 5,41 16,19 37,82 - 3.804 12% Buy

MNCN IJ Equity 1.590 (3,41) (4,29) 1,75 8,76 5,30 13,22 21,24 42,22 1.871 18% Buy

SCMA IJ Equity 1.485 3,28 0,35 3,99 16,94 11,51 19,59 26,60 0,33 1.760 19% Buy

UNTR IJ Equity 20.000 (1,57) (12,78) 1,25 6,55 2,74 9,42 19,84 17,95 26.179 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 34.000 2,48 (1,27) 4,85 28,78 88,15 1,40 6,51 6,30 33.444 -2% Sell

BBRI IJ Equity 4.570 2,24 3,64 2,70 16,23 89,64 2,62 6,78 66,52 4.764 4% Hold

BBNI IJ Equity 7.300 3,16 (6,37) 1,12 8,90 93,76 2,30 5,03 59,54 8.925 22% Buy

BBTN IJ Equity 1.940 1,66 (13,21) 0,81 14,22 103,45 2,82 3,54 188,00 2.234 15% Buy

BMRI IJ Equity 7.675 0,33 (1,95) 1,72 12,78 97,16 2,33 5,44 50,04 8.710 13% Buy

BTPS IJ Equity 4.540 (0,64) 10,12 9,02 36,00 454,49 1,39 38,72 149,94 4.314 -5% Sell



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 1.600 7,0 Positif Trading Positif 1.425 1.580 1.735 1.605 1.580 1.560 1.625 1.650 1.535 Speculative Buy

ADRO IJ Equity 1.270 (18,3) Positif Oversold Negatif 1.200 1.415 1.630 1.265 1.240 1.215 1.290 1.315 1.195 Speculative Buy

AKRA IJ Equity 3.200 (19,0) Positif Oversold Negatif 3.230 3.450 3.665 3.205 3.160 3.105 3.260 3.305 3.060 Speculative Buy

ANTM IJ Equity 730 (13,1) Positif Oversold Negatif 690 805 925 725 720 705 740 745 695 Speculative Buy

ASII IJ Equity 6.400 (7,6) Positif Oversold Negatif 6.400 6.875 7.350 6.375 6.300 6.225 6.450 6.525 6.125 Speculative Buy

BBCA IJ Equity 33.000 (1,3) Positif Oversold Negatif 32.675 33.825 34.975 32.900 32.675 32.400 33.175 33.400 31.900 Speculative Buy

BBNI IJ Equity 7.350 (6,4) Positif Oversold Negatif 7.150 7.550 7.950 7.275 7.200 7.075 7.400 7.475 6.975 Speculative Buy

BBRI IJ Equity 4.560 3,6 Positif Trading Negatif 4.340 4.570 4.795 4.615 4.540 4.445 4.710 4.785 4.380 Hold

BBTN IJ Equity 1.840 (13,2) Positif Oversold Negatif 1.850 2.050 2.250 1.815 1.770 1.700 1.885 1.930 1.675 Speculative Buy

BMRI IJ Equity 7.525 (2,0) Positif Trading Negatif 7.475 7.675 7.900 7.575 7.475 7.400 7.650 7.750 7.300 Hold

BRPT IJ Equity 1.270 (15,9) Negatif Trading Negatif 1.210 1.295 1.375 1.275 1.265 1.250 1.290 1.300 1.230 Sell

BSDE IJ Equity 1.150 (8,4) Positif Oversold Negatif 1.095 1.210 1.320 1.130 1.110 1.085 1.155 1.175 1.070 Speculative Buy

BTPS IJ Equity 4.680 10,1 Positif Trading Negatif 4.045 4.500 4.955 4.725 4.610 4.535 4.800 4.915 4.465 Hold

CPIN IJ Equity 6.250 (3,8) Positif Oversold Negatif 6.450 7.050 7.625 6.275 6.175 6.125 6.325 6.425 6.025 Speculative Buy

CTRA IJ Equity 895 (13,9) Positif Oversold Negatif 885 995 1.105 890 875 855 910 925 840 Speculative Buy

ERAA IJ Equity 1.585 (11,7) Positif Trading Negatif 1.580 1.690 1.800 1.580 1.555 1.525 1.610 1.635 1.500 Hold

EXCL IJ Equity 2.840 (9,8) Positif Oversold Negatif 2.870 3.190 3.505 2.840 2.780 2.750 2.870 2.930 2.710 Speculative Buy

GGRM IJ Equity 55.675 5,0 Positif Trading Negatif 55.450 57.300 59.150 55.750 55.500 55.350 55.900 56.150 54.525 Hold

HMSP IJ Equity 2.070 (1,4) Positif Oversold Negatif 2.040 2.195 2.350 2.075 2.060 2.045 2.090 2.105 2.015 Speculative Buy

ICBP IJ Equity 11.600 4,0 Positif Trading Negatif 11.400 11.575 11.775 11.575 11.475 11.350 11.700 11.800 11.175 Hold

INCO IJ Equity 3.300 (9,3) Positif Trading Negatif 3.120 3.385 3.650 3.280 3.230 3.190 3.320 3.370 3.140 Hold

INDF IJ Equity 7.750 (2,2) Positif Oversold Negatif 7.800 8.100 8.425 7.750 7.675 7.650 7.775 7.850 7.525 Speculative Buy

INKP IJ Equity 6.525 (15,3) Positif Oversold Negatif 6.800 7.775 8.775 6.600 6.450 6.375 6.675 6.825 6.275 Speculative Buy

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 16.850 (11,4) Positif Oversold Negatif 16.950 18.225 19.500 16.925 16.825 16.650 17.100 17.200 16.400 Speculative Buy

ITMG IJ Equity 10.150 (11,5) Positif Oversold Negatif 10.025 11.875 13.725 10.175 10.000 9.900 10.275 10.450 9.750 Speculative Buy

JPFA IJ Equity 1.480 (3,6) Positif Oversold Negatif 1.445 1.605 1.760 1.475 1.450 1.425 1.500 1.525 1.400 Speculative Buy

JSMR IJ Equity 4.640 (10,3) Positif Oversold Negatif 4.615 5.000 5.400 4.625 4.580 4.545 4.660 4.705 4.475 Speculative Buy

KLBF IJ Equity 1.480 (8,6) Positif Oversold Negatif 1.455 1.570 1.685 1.480 1.470 1.460 1.490 1.500 1.440 Speculative Buy

LPPF IJ Equity 2.980 (29,2) Positif Oversold Negatif 3.085 3.890 4.695 3.085 2.965 2.865 3.185 3.305 2.820 Speculative Buy

MNCN IJ Equity 1.560 (4,3) Positif Trading Negatif 1.530 1.640 1.755 1.595 1.540 1.500 1.635 1.690 1.475 Hold

PGAS IJ Equity 1.520 (30,0) Positif Strong Buy Negatif 1.680 1.945 2.210 1.615 1.515 1.425 1.705 1.805 1.400 Buy

PTBA IJ Equity 2.230 (16,2) Positif Oversold Negatif 2.100 2.520 2.940 2.210 2.175 2.140 2.245 2.280 2.105 Speculative Buy

PTPP IJ Equity 1.375 (13,2) Positif Oversold Negatif 1.325 1.550 1.770 1.390 1.360 1.340 1.410 1.440 1.320 Speculative Buy

PWON IJ Equity 525 (7,9) Positif Oversold Negatif 515 560 610 520 510 505 525 535 495 Speculative Buy

SCMA IJ Equity 1.415 0,4 Positif Oversold Negatif 1.370 1.495 1.625 1.410 1.390 1.355 1.445 1.465 1.330 Speculative Buy

SMGR IJ Equity 12.025 0,2 Positif Trading Negatif 11.750 12.450 13.150 12.075 12.000 11.900 12.175 12.250 11.725 Hold

SRIL IJ Equity 216 (16,9) Positif Strong Buy Negatif 220 251 282 216 200 192 224 240 189 Buy

TBIG IJ Equity 1.185 (4,5) Positif Trading Negatif 1.090 1.165 1.235 1.175 1.145 1.125 1.195 1.225 1.110 Hold

TKIM IJ Equity 8.600 (16,3) Positif Strong Buy Negatif 9.025 10.650 12.300 8.625 8.450 8.325 8.750 8.925 8.200 Buy

TLKM IJ Equity 3.760 (5,3) Positif Oversold Negatif 3.745 3.880 4.015 3.780 3.745 3.700 3.825 3.860 3.640 Speculative Buy

TOWR IJ Equity 850 4,3 Positif OverBought Positif 765 815 860 835 825 800 860 870 790 Hold

UNTR IJ Equity 18.775 (12,8) Positif Oversold Negatif 18.775 20.975 23.200 19.025 18.750 18.450 19.325 19.600 18.175 Speculative Buy

UNVR IJ Equity 7.875 (6,3) Positif Oversold Negatif 7.975 8.300 8.600 7.875 7.825 7.775 7.925 7.975 7.675 Speculative Buy

WIKA IJ Equity 1.935 (2,8) Positif Oversold Negatif 1.835 2.025 2.210 1.910 1.890 1.855 1.945 1.965 1.830 Speculative Buy

WSKT IJ Equity 1.195 (19,5) Positif Oversold Negatif 1.175 1.370 1.565 1.215 1.185 1.165 1.235 1.265 1.145 Speculative Buy

source: Bloomberg Lp



MAJOR ECONOMIC RELEASE CALENDAR

Date Event Country Act Prev Cons

04-Feb-20 GB Construction PMI JAN GBR 46.4 44.4 45.9

US Factory Orders MoM DEC USD 1.8% -1.2% 0.7%

US API Crude Oil Stock Change 31/JAN USD 4.18M -4.267M

05-Feb-20 Japan, Jibun Bank Services PMI Final JAN JPY 49.4 52.1

Japan, Jibun Bank Composite PMI Final JAN JPY 48.6 51.1

China, Caixin Services PMI JAN CNY 52.5 52.6

China, Caixin Composite PMI JAN CNY 52.6

Indonesia, GDP Growth Rate QoQ Q4 IDN 3.06%

Indonesia, GDP Growth Rate YoY Q4 IDN 5.02%

Indonesia, Full Year GDP Growth 2019 IDN 5.2% 5.1%

Indonesia, Business Confidence Q4 IDN 105.3

GB New Car Sales YoY JAN GBR 3.4%

GB Markit/CIPS UK Services PMI Final JAN GBR 50

GB Markit/CIPS Composite PMI Final JAN GBR 49.3 52.4

US ADP Employment Change JAN USD 202K 155K

US Balance of Trade DEC USD $-43.1B $-44.6B

US Exports DEC USD $209B

US Imports DEC USD $252B

US Markit Services PMI Final JAN USD 52.8 53.2

US Markit Composite PMI Final JAN USD 52.7 53.1

US EIA Crude Oil Stocks Change 31/JAN USD 3.548M

US EIA Gasoline Stocks Change 31/JAN USD 1.203M

06-Feb-20 Japan, Foreign Bond Investment 01/FEB JPY ¥-551.9B

Japan, Stock Investment by Foreigners 01/FEB JPY ¥-284.3B

Indonesia, Consumer Confidence JAN IDN 126.4

US Challenger Job Cuts JAN USD 32.843K

US Initial Jobless Claims 01/FEB USD 216K

US Unit Labour Costs QoQ Prel Q4 USD 2.5% 1.4%

US Nonfarm Productivity QoQ Prel Q4 USD -0.2% 1.2%

US Continuing Jobless Claims 25/JAN USD 1703K

US EIA Natural Gas Stocks Change 31/JAN USD -201Bcf

Source: Bloomberg Lp

https://tradingeconomics.com/united-kingdom/construction-pmi

https://tradingeconomics.com/united-states/factory-orders

https://tradingeconomics.com/japan/services-pmi

https://tradingeconomics.com/japan/composite-pmi

https://tradingeconomics.com/china/services-pmi

https://tradingeconomics.com/indonesia/gdp-growth-annual

https://tradingeconomics.com/united-kingdom/composite-pmi

https://tradingeconomics.com/united-states/adp-employment-change

https://tradingeconomics.com/united-states/balance-of-trade

https://tradingeconomics.com/united-states/services-pmi

https://tradingeconomics.com/united-states/composite-pmi



CORPORATE ACTION

RUPS

Date Time Company Event Place

05-Feb-20 10:00 TPIA RUPSLB Wisma Barito Pasific 10:00 BUVA RUPSLB Hotel Alila SCBD

10-Feb-20 10:00 TINS RUPSLB Hotel Borobudur Jakarta 10:30 GGRP RUPSLB Kantor perseroan

11-Feb-20 10:00 DIVA RUPSLB Kresna Tower

12-Feb-20 10:00 CSAP RUPSLB Kantor perseroan

18-Feb-20 14:00 BBRI RUPST Gedung BRI 1 Jakarta Pusat

19-Feb-20 14:00 AGRO RUPST Gedung BRI Agro Lt 3 14:00 BMRI RUPST Jakarta

20-Feb-20 9:30 BBKP RUPSLB Gedung Bank Bukopin Lt 3 14:00 BBNI RUPST Menara BNI Lt 6 Dividend

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

MFMI Cash Dividen 27-Des-19 30-Des-19 02-Jan-20 15-Jan-20 132 ADRO Cash Dividen 02-Jan-20 03-Jan-20 06-Jan-20 15-Jan-20 US$ 0.00469 KEJU Cash Dividen 03-Jan-20 06-Jan-20 07-Jan-20 13-Jan-20 33

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

Putra Rajawali Kencana Tbk UOB Kay Hian Sekuritas 22 - 21 Januari 2020 29-Jan-20 105 1.800

Nara Hotel Internationals Tbk Magenta Capital Sekuritas 26 - 30 Januari 2020 06-Feb-20 105 2.000

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



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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

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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.

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