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OSODaily 29 April 2020

ODAY TOP STOCK TRADED (LQ45)

+++++

JAKARTA COMPOSITE INDEX

4.529,55 16,41

0,36% Previous 4.513,14 Lowest

4.494,47

Highest 4.532,38 Val IDR bn

6.165 Volbn 6,042 Mkt Cap IDRtr

5.237,41

Net Forg 1DIDRbn (1.103,66) Net ForgYTDIDRbn

(19.691,76) Return YTD (%) (28,10) Month to date (%)

(0,21)

Indices

Last Chg% YTD% Americas

Dow Jones United States 24.101,55 (0,13) (9,24) S&P 500 United States 2.863,39 (0,52) (2,71) Nasdaq United States 8.607,73 (1,40) 5,62 EIDO United States 15,44 0,00 (40,59) EMEA

FTSE 100 United Kingdom 5.958,50 1,91 (19,92)

CAC 40 France 4.569,79 1,43 (18,12) D DAX Germany 10.795,63 1,27 (12,43)

Asia Pacific Nikkei Japan 19.783,22 (0,06) (11,18) Shanghai China 2.815,50 (0,19) (8,95) TWSE Taiwan 10.567,27 0,46 (3,07) KOSPI Korea 1.922,77 0,59 (11,25) KLSE Malaysia 1.370,16 0,15 (16,25) ST – Times Singapore 2.549,40 0,53 (23,65) Sensex India 31.743,08 1,17 (17,80) Hangseng Hongkong 24.280,14 1,22 (16,99)

Sectoral Previous Last Chg% YTD% AGRICULTURE 918,39 941,40 2,51 (38,25) MINING 1.192,14 1.180,86 (0,95) (23,75) MISC INDUSTRY 707,62 713,13 0,78 (41,73) BASIC INDUSTRY 702,36 723,33 2,99 (26,05) CONSUMER GOODS 1.734,14 1.773,85 2,29 (13,58) PROPERTY 291,19 289,95 (0,42) (42,46) INFRASTRUKTUR 849,45 854,14 0,55 (24,91) FINANCE 916,57 902,54 (1,53) (33,38) MANUFAKTURE 1.110,14 1.135,96 2,33 (22,24) TRADE 588,18 591,85 0,62 (23,12) LQ 45 669,76 671,17 0,21 (33,84)

Commodities Previous Lastest Chg% YTD%

Oil (USD/bbl) 12,78 12,34 (3,44) (78,20) Gold (USD tr.oz) 1.713,99 1.707,79 (0,36) 12,49 Nickel (USD/mtrc ton) 12.244,00 12.294,00 0,41 (12,34) Tin (USD/mtrc ton) 15.460,00 15.345,00 (0,74) (10,66) Copper (USD/mtrc ton) 5.197,00 5.223,00 0,50 (15,40) CPO (MYR/ton) 2.050,00 2.051,00 0,05 (32,56) Coal (USD/ton) 50,45 51,20 1,49 (24,43)

Currencies

Last Chg% YTD% IDR / USD

15.445,00 (0,29) (10,22)

IDR / AUD

10.000,22 (2,17) (2,82) IDR / EUR

16.746,05 (1,08) (7,12)

IDR /SGD

10.885,18 (0,06) (5,30) IDR / JPY

144,17 (0,17) (11,41)

IDR / GBP

19.241,72 (1,42) (5,29) Global Macro Economics

CB Rate CPI YoY GDP YoY

United States 0,25 1,50 2,30 Euro Area 0,00 0,70 1,00 United Kingdom 0,10 1,50 1,10 Japan 0,10 0,40 -0,70 China 4,35 4,30 -6,80 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 8,11 7,94 7,94 15 Year 8,15 8,15 8,15 20 Year 8,14 8,14 8,14 30 Year 8,17 8,17 8,17

Source: Bloomberg LP & OSO Research Team

Market Review Pada perdagangan kemarin (28/04) IHSG ditutup menguat sebesar 0,36% ke level 4.529.55. Tujuh dari sepuluh indeks sektoral ditutup dalam teritori positif, dimana sektor Industri Dasar dan Perkebunan memimpin penguatan masing-masing sebesar 2,99% dan 2,51%. Adapun saham yang menjadi penggerak indeks diantaranya ; UNVR, BRPT, EMTK, KLBF, TPIA. Pelaku pasar asing membukukan aksi jual bersih (Netsell) senilai Rp 1,1 triliun. Nilai tukar rupiah terdepresiasi sebesar 0,29% ke level 15.445. Global Review Sementara itu semalam (28/04) bursa saham Wall Street kompak ditutup dalam zona merah, dimana Dow Jones dan S&P 500 turun sebesar 0,13% dan 0,52% sedangkan Nasdaq melemah sebesar 1,40%. Penurunan tersebut seiring dengan rilisnya beberapa data ekonomi AS yang masih belum membaik akibat dari pandemi Corona, tercatat dataWholesale Investories AS bulan mengalami penurunan sebesar 1% serta data indeks kepercayaan konsumen bulan April yang turun ke level 86.9 dari sebelumnya di level 118.8. Selain itu adanya peralihan portofolio dari para investor saham di Amerika Serikat (AS) membuat indeks teknologi turun paling dalam pada perdagangan semalam, kini investor mulai menjual saham-saham teknologi yang dianggap sudah cukup tinggi dan beralih ke saham yang lebih sensitif dengan ekonomi dan dianggap sudah turun cukup banyak sejak pandemi. JCI Prediction IHSG ditutup menguat sebesar 0,36% ke level 4.529. IHSG ditutup bullish candle. Adapun indikator Stochastic di rasio 46% cenderung flat dan MACD histogram bergerak turun dengan Volume turun. Kami perkirakan IHSG bergerak mixed kecenderungan melemah dengan pergerakan di kisaran 4.441 – 4.580. Major Economic Release

Wholesale Inventories United States bulan

Maret turun sebesar 1% dibandingkan

sebelumnya turun sebesar 0,6% (MoM).

CB Consumer Confidence United States

bulan April turun ke level 86.9 dari

sebelumnya di level 118.8.



TODAY TOP STOCK TRADED (LQ45) Top Gainers

Last Chg% YTD% MC (T) Beta

BRPT IJ Equity

1.350 11,11 (10,60) 108,16 1,73

AKRA IJ Equity

2.270 10,73 (42,53) 8,23 1,39

KLBF IJ Equity

1.445 8,65 (10,80) 62,34 1,12

PTPP IJ Equity

645 6,61 (59,31) 3,75 2,00

PWON IJ Equity

360 6,51 (36,84) 16,28 1,64

Top Losers

Last Chg% YTD% MC (T) Beta

ACES IJ Equity

1.410 (5,37) (5,69) 25,55 0,96

UNTR IJ Equity

15.550 (5,18) (27,76) 61,17 0,74

BTPS IJ Equity

1.900 (4,76) (55,29) 15,37 1,21

ITMG IJ Equity

6.900 (2,82) (39,87) 8,02 1,27

SMGR IJ Equity

6.950 (2,80) (42,08) 42,41 1,45

Top Volume

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

BBRI IJ Equity

2.590 268,3 (41,1) 328,10 1,39

BRPT IJ Equity

1.350 119,7 (10,6) 108,16 1,73

TBIG IJ Equity

1.150 115,6 (6,5) 24,47 0,96

TLKM IJ Equity

3.160 80,2 (20,4) 312,05 0,94

BMRI IJ Equity

4.150 78,7 (45,9) 193,67 1,53

Top Value

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

BBCA IJ Equity

24.150 729,8 (27,7) 611,44 1,14

BBRI IJ Equity

2.590 473,0 (41,1) 328,10 1,39

BMRI IJ Equity

4.150 426,2 (45,9) 193,67 1,53

TLKM IJ Equity

3.160 270,1 (20,4) 312,05 0,94

ASII IJ Equity

3.740 170,9 (46,0) 150,19 1,39

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

BENCHMARK INDICES COMPARISON Indices

Country Latest P/E PBV Target 2020F

Asia Pacific IHSG

Indonesia 4.530 13,24 1,27 5.542

Nikkei

Japanese 19.771 17,59 1,47 23.887

Shanghai

China 2.810 13,45 1,36 3.218

TWSE

Taiwan 10.616 17,00 1,56 11.422

KOSPI

Korea 1.934 18,57 0,76 2.449

KLSE

Malaysia 1.372 15,25 1,35 1.493

ST - Times

Singapore 2.563 10,02 0,87 3.033

Sensex

India 32.115 19,27 2,46 39.479

Hangseng

Hongkong 24.576 9,75 1,03 29.461

JAKARTA COMPOSITE INDEX MOVERS

Movers

Latest Chg% YTD% MC (T) Beta

UNVR IJ Equity

7850 4,67 (6,55) 286 0,89

BRPT IJ Equity

1350 11,11 (10,60) 108 1,73

EMTK IJ Equity

4950 21,21 (11,21) 28 (0,04)

KLBF IJ Equity

1445 8,65 (10,80) 62 1,12

TPIA IJ Equity

8625 2,32 (16,87) 154 0,64

Laggard


BBCA IJ Equity

24150 (2,62) (27,75) 611 1,14

BBRI IJ Equity

2590 (2,63) (41,14) 328 1,39

UNTR IJ Equity

15550 (5,18) (27,76) 61 0,74

POLL IJ Equity

5475 (6,85) (50,68) 46 0,68

HMSP IJ Equity

1515 (1,30) (27,86) 179 1,06

Movers


OSO MANAJEMEN INVESTASI

Mutual Fund

Latest 1 Month (%) YTD% Oso Sustainability Fund

913,57 17,46 (33,86)

Oso Syariah Equity Fund

361,72 (13,07) (36,06)

Source: Bloomberg LP & OSO Research Team



COMPARATION OF JCI PERFORMANCE (SEAG)




MACRO ECONOMIC & INDUSTRY NEWS

Federal Reserve (The Fed) diperkirakan tetap mempertahankan suku bunga mendekati nol selama tiga tahun

atau lebih dan nilai neraca akan melonjak di atas US$ 10 triliun. Hal ini dilakukan untuk menghidupkan kembali

ekonomi Amerika Serikat (AS) di tengah badai resesi menurut para ekonom dalam survei Bloomberg.

Harga minyak mentah terjun bebas setelah ETF (exchange-traded fund) minyak terbesar di dunia mengatakan

akan menjual posisi minyak mentah berjangka WTI kontrak Juni karena level penyimpanan minyak fisik

membengkak. Minyak mentah berjangka di New York tersungkur sebanyak 30 persen setelah United States Oil

Fund LP (USO) mengatakan akan memindahkan seluruh uang yang diinvestasikannya dalam kontrak minyak WTI

Juni mulai hari ini. Hal tersebut memicu pergerakan besar dalam hubungan harga antara kontrak Juni dan Juli.

Perusahaan pemeringkat Fitch Ratings menurunkan proyeksi harga jual minyak sawit mentah atau crude palm oil

(CPO) sebesar US$30 per ton pada tahun ini. Fitch menyebutkan penurunan itu mencerminkan risiko permintaan

minyak nabati dan biodiesel yang lebih lemah karena dampak pandemi covid-19. Selain itu penurunan tajam dalam

harga minyak mentah juga ikut berpengaruh.

CORPORATES NEWS

PT Nippon Indosari Corpindo Tbk. (ROTI) mencatatkan kinerja kinclong sepanjang kuartal pertama tahun ini.

Laporan keuangan perseroan menunjukkan, ROTI membukukan laba bersih yang dapat diatribusikan kepada

pemilik induk sebesar Rp77,8 miliar. Jumlah itu meningkat meningkat 20,0 persen dibandingkan periode yang sama

tahun sebelumnya.

PT Vale Indonesia Tbk. (INCO) mencetak laba bersih sebesar US$29 juta pada kuartal I/2020. Raihan tersebut

membalikkan posisi rugi bersih pada kuartal I/2019 sebesar US$20,2 juta. Perolehan laba bersih Vale Indonesia tak

lepas dari kinerja pendapatan yang tumbuh 38,21 persen menjadi US$174,7 juta. Dalam tiga bulan pertama 2020,

INCO itu memproduksi nikel sebanyak 17.614 metrik ton dan menjual 16.713 metrik ton.

PT Astra Agro Lestari Tbk. (AALI) mencetak laba bersih sebesar Rp371,06 miliar pada kuartal I/2020. Jumlah

tersebut jauh lebih besar dibandingkan dengan periode kuartal I/2019 sebanyak Rp37,41 miliar. Dengan kata lain,

laba bersih Astra Agro meroket 892 persen. Walhasil, laba per saham juga naik menjadi Rp192,79.

PT Astra Otoparts Tbk. (AUTO) anak usaha PT Astra International Tbk., membukukan penurunan laba bersih

sebesar 28,01 persen pada kuartal I/2020, akibat menurunnya pendapatan dan kenaikan sejumlah pos beban.

PT Sawit Sumbermas Sarana Tbk. (SSMS) turun sedalam 86,45 persen menjadi Rp11,68 miliar akibat penurunan

penjualan dan kenaikan aneka beban. Sejalan dengan penurunan laba bersih, Laba per saham juga menyusut dari

posisi Rp9,05 menjadi Rp1,23.

PT AKR Corporindo Tbk.(ARKA) meraup pendapatan sebanyak Rp6,34 triliun sepanjang kuartal I/2020 atau tumbuh

26,04 persen dibandingkan dengan posisi kuartal I/2019. Perseroan meyakini Kenaikan pendapatan turut

mendorong peningkatan laba bersih sebesar 13 persen dari Rp202 miliar pada kuartal I/2019 menjadi Rp228 miliar

pada kuartal I/2020.

Sumber: Kontan, Bisnis Indonesia, Iqplus

NOTE: Positive Sentiment Negative Sentiment Netral

https://www.bisnis.com/topic/282/Harga-Minyak




Technical

Medium/Minor trend : Konsolidasi Trend MACD line/histogram : Positif Stochastic : Golden Cross Volume : Meningkat

Recommendation : Buy On Weakness Entry Buy : 6.300 – 6.475 Target Price : 6.575 – 6.750 Support : 6.275 – 6.300 Cutloss : 6.250

DAILY TECHNICAL

BUY INDF l PE : 11,6 l PBV : 1,50 l ROE : 13,75 l NPM : 6,41 l DER : 42,38 l Fair Value : 8.076

Prospek Meyakinkan Saham Emiten Pangan Saat Momen Ramadan Prospek emiten pangan khususnya produk makanan pokok diperkirakan masih berpotensi bertumbuh apalagi saat momen bulan Ramadan. Hanya saja, para analis menilai tantangan dari situasi pemberlakuan pembatasan sosial berskala besar di seluruh Indonesia adalah dari segi ketersedian stok bahan baku.

Souce: OSO Research Team

Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 6.575. Apabila break 6.575 next harga ke level 6.750. Hati-hati jika harga tidak mampu break up atau menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 6.250 jika sudah melewati support 6.275 – 6.300.

NOTE:




Technical

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

Recommendation : Trading Buy Entry Buy : 1.305 – 1.345 Target Price : 1.370 – 1.410 Support : 1.300 – 1.305 Cutloss : 1.295

DAILY TECHNICAL

BUY KAEF l PE : l PBV : 0,99 l ROE : (0,23) l NPM : (0,14) l DER : 111,92 l Fair Value :

Lakukan Efisiensi, Kimia Farma (KAEF) Pangkas Belanja Modal Jadi Rp 1,44 Triliun Anggota Holding BUMN Farmasi yaitu PT Kimia Farma Tbk (KAEF) melakukan efisiensi biaya di tengah pandemi Covid-19. KAEF bakal mengurangi anggaran belanja modal atau capital expenditure (capex) sebesar Rp 547 miliar menjadi Rp 1,44 triliun untuk tahun ini. Sebelumnya, emiten ini mengalokasikan jumlah belanja modal sebesar Rp 1,98 triliun. Strategi pada tahun ini, kami melakukan pengurangan terhadap capex menjadi Rp 1,44 triliun.



NOTE:




Technical

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

Recommendation : Buy On Weakness Entry Buy : 1.835 – 1.940 Target Price : 1.985 – 2.030 Support : 1.830 – 1.835 Cutloss : 1.825

DAILY TECHNICAL

Beli Rumahsakit, Anak Usaha Mitra Keluarga (MIKA) Gelontorkan Dana Rp 35 Miliar PT Mitra Keluarga Karyasehat Tbk (MIKA) melakukan pembelian secara bertahap tanah, bangunan, dan aset lainnya dari Rumah Sakit Ibu dan Anak Panti Adi Dharma. Pembelian yang dilakukan melalui anak usahanya, PT Kasih Abdi Dharma, itu menelan dana hingga Rp 35 miliar. Untuk jangka panjang ke depan dapat meningkatkan kinerja Mitra Keluarga secara keseluruhan dan memperkuat eksistensi perseroan di daerah dengan fokus area baru.


MIKA l PE : 37,0 l PBV : 6,33 l ROE : 17,45 l NPM : 22,78 l DER : 0,11 l Fair Value : 2.551


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 1.350 11,11 (10,60) 6,61 209,11 16,80 0,62 3,76 92,01 780 -42% Sell

CPIN IJ Equity 4.300 4,37 (33,85) 3,35 19,44 12,15 12,75 17,98 23,96 4.651 8% Buy

INKP IJ Equity 5.175 (0,96) (32,79) 0,46 6,71 2,13 3,18 7,06 95,94 11.300 118% Buy

INTP IJ Equity 10.550 0,48 (44,55) 1,68 21,16 12,43 6,61 7,93 0,48 15.897 51% Buy

JPFA IJ Equity 925 0,54 (39,74) 1,01 6,12 2,61 7,32 17,32 75,31 1.513 64% Buy

SMGR IJ Equity 6.950 (2,80) (42,08) 1,28 17,24 4,73 3,66 7,54 82,74 11.916 71% Buy

TKIM IJ Equity 4.830 (1,83) (52,99) 0,71 5,82 7,65 5,01 11,50 120,71 13.000 169% Buy

Industry Average in LQ45 2,16 40,80 8,36 5,59 10,44 70,16

Total of Industry Average 1,24 28,59 7,89 1,37 (12,17) 101,03

SECTOR CONSUMER GOODS

ACES IJ Equity 1.410 (5,37) (5,69) 5,11 23,37 16,75 18,33 23,01 - 1.323 -6% Sell

GGRM IJ Equity 44.050 1,26 (16,89) 1,66 7,79 4,81 14,73 22,65 34,19 56.009 27% Buy

HMSP IJ Equity 1.515 (1,30) (27,86) 4,94 12,87 9,54 28,15 38,63 1,17 1.865 23% Buy

ICBP IJ Equity 10.025 1,01 (10,09) 4,62 23,18 13,46 13,79 21,48 8,81 11.387 14% Buy

INDF IJ Equity 6.475 2,78 (18,30) 1,50 11,58 4,30 5,09 13,75 42,38 8.076 25% Buy

KLBF IJ Equity 1.445 8,65 (10,80) 4,26 27,02 17,69 13,05 16,43 4,89 1.442 0% Sell

UNVR IJ Equity 7.850 4,67 (6,55) 56,70 40,52 26,61 36,08 116,74 75,07 8.480 8% Buy


Total of Industry Average 3,68 21,88 10,57 5,38 (32,51) 57,67

SECTOR INFRASTRUCTURE

EXCL IJ Equity 2.550 2,82 (19,05) 1,43 130,48 2,57 1,18 3,80 140,83 3.447 35% Buy

JSMR IJ Equity 2.700 5,47 (47,83) 1,08 10,13 3,02 2,28 11,28 157,26 5.440 101% Buy

PGAS IJ Equity 780 (0,64) (64,06) 0,48 18,19 1,24 0,88 2,63 85,04 1.100 41% Buy

TBIG IJ Equity 1.150 6,48 (6,50) 4,98 29,61 6,03 2,73 19,59 415,69 1.164 1% Hold

TLKM IJ Equity 3.160 0,32 (20,40) 3,14 15,45 4,76 9,65 21,31 37,58 4.277 35% Buy

TOWR IJ Equity 880 1,73 9,32 5,06 18,99 8,30 9,25 27,95 173,14 972 10% Buy


Total of Industry Average 1,79 26,47 9,00 (1,89) (1,48) 128,47

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 890 (1,11) (42,77) 0,50 4,58 1,83 5,66 10,95 48,89 1.258 41% Buy

AKRA IJ Equity 2.270 10,73 (42,53) 1,09 12,72 6,40 3,45 8,54 45,79 3.469 53% Buy

ANTM IJ Equity 492 (2,57) (41,43) 0,65 61,02 5,72 0,62 1,06 47,19 738 50% Buy

INCO IJ Equity 2.350 (1,67) (35,44) 0,78 26,30 6,95 2,59 3,00 0,06 3.202 36% Buy

ITMG IJ Equity 6.900 (2,82) (39,87) 0,55 3,81 2,11 9,76 13,90 1,20 11.255 63% Buy

PTBA IJ Equity 1.780 (2,47) (33,08) 1,09 4,78 3,33 16,14 23,67 3,42 2.422 36% Buy


Total of Industry Average 1,07 14,27 6,06 (0,11) (3,74) 100,50

SECTOR MISC INDUSTRY

ASII IJ Equity 3.740 0,81 (45,99) 0,98 7,11 3,89 5,89 14,37 49,42 5.550 48% Buy

SRIL IJ Equity 151 (1,95) (41,92) 0,34 2,27 0,90 6,00 15,81 144,29 Neutral #VALUE! #VALUE!


Total of Industry Average 1,27 37,71 5,17 2,12 19,06 96,90

SECTOR PROPERTY

BSDE IJ Equity 690 - (45,02) 0,45 4,69 4,54 5,24 10,10 39,96 1.193 73% Buy

CTRA IJ Equity 505 2,64 (51,44) 0,61 8,12 3,74 3,29 7,79 51,66 1.048 107% Buy

PTPP IJ Equity 645 6,61 (59,31) 0,30 4,31 1,28 1,67 7,10 94,11 1.366 112% Buy

PWON IJ Equity 360 6,51 (36,84) 1,20 5,95 4,91 11,59 22,21 36,44 619 72% Buy

WIKA IJ Equity 875 4,79 (56,03) 0,48 3,44 2,46 3,77 14,60 78,48 1.673 91% Buy

WSKT IJ Equity 590 5,36 (60,27) 0,45 8,54 1,69 0,76 5,23 237,92 1.081 83% 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 1.175 0,43 (34,54) 0,78 12,68 4,23 2,63 6,20 54,32 1.173 0% Sell

LPPF IJ Equity 1.245 0,81 (70,43) 1,90 2,56 1,63 27,70 76,74 - 2.398 93% Buy

MNCN IJ Equity 875 - (46,32) 0,93 4,87 2,93 13,07 20,78 35,71 1.494 71% Buy

SCMA IJ Equity 800 1,27 (43,26) 2,26 9,58 6,51 19,59 26,60 0,33 1.291 61% Buy

UNTR IJ Equity 15.550 (5,18) (27,76) 0,92 5,75 2,43 8,70 16,90 22,89 20.577 32% 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 24.150 (2,62) (27,75) 3,42 20,84 86,78 1,30 6,57 6,38 30.768 27% Buy

BBRI IJ Equity 2.590 (2,63) (41,14) 1,54 9,22 89,64 2,62 6,78 66,52 4.012 55% Buy

BBNI IJ Equity 3.820 0,53 (51,34) 0,58 4,63 93,76 2,30 5,03 59,54 6.407 68% Buy

BBTN IJ Equity 835 1,83 (60,61) 0,37 42,88 113,51 4,78 3,15 225,31 1.730 107% Buy

BMRI IJ Equity 4.150 - (45,93) 0,95 7,05 100,37 2,33 5,30 50,07 6.959 68% Buy

BTPS IJ Equity 1.900 (4,76) (55,29) 2,71 10,46 479,42 1,37 39,48 140,00 3.614 90% 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 1.410 (5,7) Negatif Trading Positif 1.180 1.285 1.395 1.425 1.335 1.285 1.475 1.565 1.265 Hold

ADRO IJ Equity 890 (42,8) Positif Oversold Negatif 855 1.010 1.165 905 865 845 925 965 830 Speculative Buy

AKRA IJ Equity 2.270 (42,5) Negatif Trading Positif 1.780 1.980 2.185 2.095 2.110 2.010 2.195 2.180 1.980 Hold

ANTM IJ Equity 492 (41,4) Positif Trading Positif 423 497 570 498 485 482 500 515 474 Speculative Buy

ASII IJ Equity 3.740 (46,0) Positif Oversold Positif 3.550 3.850 4.150 3.685 3.610 3.495 3.800 3.875 3.445 Buy

BBCA IJ Equity 24.150 (27,7) Positif Oversold Negatif 25.100 27.100 29.100 24.550 24.025 23.725 24.850 25.375 23.375 Speculative Buy

BBNI IJ Equity 3.820 (51,3) Positif Oversold Positif 3.675 4.005 4.340 3.840 3.760 3.670 3.930 4.010 3.615 Buy

BBRI IJ Equity 2.590 (41,1) Positif Oversold Positif 2.570 2.860 3.150 2.645 2.590 2.555 2.680 2.735 2.515 Buy

BBTN IJ Equity 835 (60,6) Positif Oversold Positif 800 910 1.020 830 810 785 855 875 775 Buy

BMRI IJ Equity 4.150 (45,9) Positif Oversold Positif 4.075 4.620 5.175 4.225 4.100 3.965 4.360 4.485 3.905 Buy

BRPT IJ Equity 1.350 (10,6) Negatif OverBought Positif 595 945 1.300 1.265 1.260 1.185 1.340 1.345 1.165 Sell

BSDE IJ Equity 690 (45,0) Positif Oversold Negatif 605 750 895 675 650 620 705 730 610 Speculative Buy

BTPS IJ Equity 1.900 (55,3) Positif Oversold Positif 1.720 2.305 2.895 2.015 1.925 1.860 2.080 2.170 1.835 Buy

CPIN IJ Equity 4.300 (33,8) Negatif Trading Positif 3.840 4.490 5.150 4.150 4.125 3.950 4.325 4.350 3.890 Hold

CTRA IJ Equity 505 (51,4) Positif Oversold Positif 397 535 670 489 472 444 515 535 437 Buy

ERAA IJ Equity 1.175 (34,5) Positif Trading Positif 815 1.085 1.350 1.165 1.140 1.115 1.190 1.215 1.095 Speculative Buy

EXCL IJ Equity 2.550 (19,0) Negatif Trading Positif 1.805 2.200 2.595 2.475 2.430 2.365 2.540 2.585 2.330 Hold

GGRM IJ Equity 44.050 (16,9) Positif Trading Negatif 39.800 45.175 50.525 43.300 43.075 42.575 43.800 44.025 41.925 Hold

HMSP IJ Equity 1.515 (27,9) Positif Trading Negatif 1.380 1.575 1.775 1.525 1.500 1.485 1.540 1.565 1.465 Hold

ICBP IJ Equity 10.025 (10,1) Positif Trading Positif 9.700 10.050 10.425 9.925 9.825 9.625 10.125 10.225 9.475 Speculative Buy

INCO IJ Equity 2.350 (35,4) Positif Trading Positif 1.995 2.310 2.625 2.390 2.350 2.330 2.410 2.450 2.295 Speculative Buy

INDF IJ Equity 6.475 (18,3) Negatif Trading Positif 6.025 6.425 6.800 6.425 6.375 6.225 6.575 6.625 6.125 Hold

INKP IJ Equity 5.175 (32,8) Positif Trading Positif 3.845 4.815 5.775 5.100 4.940 4.815 5.225 5.400 4.740 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 10.550 (44,5) Positif Oversold Positif 10.175 11.675 13.175 10.525 10.300 10.000 10.825 11.050 9.850 Buy

ITMG IJ Equity 6.900 (39,9) Positif Oversold Negatif 6.800 7.750 8.675 6.975 6.850 6.750 7.075 7.200 6.650 Speculative Buy

JPFA IJ Equity 925 (39,7) Positif Trading Positif 855 935 1.015 915 890 860 945 970 850 Speculative Buy

JSMR IJ Equity 2.700 (47,8) Positif Oversold Positif 2.310 2.800 3.295 2.580 2.570 2.440 2.710 2.720 2.405 Buy

KLBF IJ Equity 1.445 (10,8) Negatif Trading Positif 1.045 1.190 1.330 1.325 1.325 1.250 1.400 1.400 1.230 Hold

LPPF IJ Equity 1.245 (70,4) Positif Oversold Positif 1.105 1.320 1.535 1.250 1.215 1.165 1.300 1.335 1.145 Buy

MNCN IJ Equity 875 (46,3) Positif Oversold Negatif 840 995 1.155 885 860 835 910 935 820 Speculative Buy

PGAS IJ Equity 780 (64,1) Positif Oversold Positif 705 810 915 775 765 745 795 805 735 Buy

PTBA IJ Equity 1.780 (33,1) Positif Trading Negatif 1.790 1.990 2.190 1.840 1.790 1.765 1.865 1.915 1.740 Hold

PTPP IJ Equity 645 (59,3) Positif Oversold Positif 492 655 815 620 615 575 660 665 570 Buy

PWON IJ Equity 360 (36,8) Positif Trading Positif 298 373 448 349 343 321 371 377 316 Speculative Buy

SCMA IJ Equity 800 (43,3) Positif Trading Positif 730 800 875 795 790 770 815 820 755 Speculative Buy

SMGR IJ Equity 6.950 (42,1) Negatif Trading Positif 6.025 7.325 8.625 6.875 6.575 6.325 7.125 7.425 6.225 Hold

SRIL IJ Equity 151 (41,9) Positif Trading Positif 142 157 172 156 153 151 158 161 148 Speculative Buy

TBIG IJ Equity 1.150 (6,5) Negatif Trading Positif 800 970 1.135 1.100 1.090 1.050 1.140 1.150 1.035 Hold

TKIM IJ Equity 4.830 (53,0) Positif Trading Positif 3.880 4.790 5.700 4.840 4.685 4.570 4.955 5.100 4.500 Speculative Buy

TLKM IJ Equity 3.160 (20,4) Positif Trading Positif 3.000 3.145 3.290 3.145 3.090 3.045 3.190 3.245 3.000 Speculative Buy

TOWR IJ Equity 880 9,3 Positif OverBought Positif 575 760 945 880 870 855 895 905 840 Hold

UNTR IJ Equity 15.550 (27,8) Positif Trading Negatif 15.125 16.875 18.625 16.175 15.800 15.800 16.175 16.550 15.550 Hold

UNVR IJ Equity 7.850 (6,5) Negatif Trading Positif 6.575 7.075 7.600 7.625 7.525 7.325 7.825 7.925 7.225 Hold

WIKA IJ Equity 875 (56,0) Positif Oversold Positif 750 995 1.240 860 840 795 905 925 785 Buy

WSKT IJ Equity 590 (60,3) Positif Trading Positif 453 575 700 565 565 535 595 595 530 Speculative Buy

source: Bloomberg Lp



MAJOR ECONOMIC RELEASE CALENDAR ECONOMICS

Date Event Country Act Prev Cons

27-Apr-20 China, Industrial Profits (YTD) YoY MAR CNY -38,3% -38.3%

Indonesia, Industrial Profits (YTD) YoY MAR IDN 5.93%

US Dallas Fed Manufacturing Index APR USD -70 -70

28-Apr-20 Japan, Unemployment Rate MAR JPY 2.5% 2.4% 2.5%

Japan, Jobs/applications ratio MAR JPY 1.39 1.45 1.4

Japan, BoJ Interest Rate Decision JPY -0.1% -0.1% -0.1%

GB CBI Distributive Trades APR GBR -55 -3 -40

US Wholesale Inventories MoM Adv MAR USD -1% -0.7%

US Goods Trade Balance Adv MAR USD $-64.22B $-59.89B

US CB Consumer Confidence APR USD 88.9 120 88

US API Crude Oil Stock Change 24/APR USD 10M 13.226M

29-Apr-20 US GDP Growth Rate QoQ Adv Q1 USD 2.1% -4%

US GDP Price Index QoQ Adv Q1 USD 1.4% 1.2%

US Pending Home Sales YoY MAR USD 9.4%

US Pending Home Sales MoM MAR USD 2.4% -10%

US EIA Gasoline Stocks Change 24/APR USD 1.017M

US EIA Crude Oil Stocks Change 24/APR USD 15.022M

Source: Bloomberg Lp



CORPORATE ACTION

Dividend

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

DMAS Cash Dividen 23-Apr-20 24-Apr-20 27-Apr-20 12-Mei-20 21

BTPS Cash Dividen 24-Apr-20 27-Apr-20 28-Apr-20 20-Mei-20 45

BJBR Cash Dividen 24-Apr-20 27-Apr-20 28-Apr-20 20-Mei-20 94

PLIN Cash Dividen 28-Apr-20 29-Apr-20 30-Apr-20 11-Mei-20 99

MDKI Cash Dividen 28-Apr-20 29-Apr-20 30-Apr-20 20-Mei-20 9

CINT Cash Dividen 29-Apr-20 30-Apr-20 04-Mei-20 20-Mei-20 2

PRDA Cash Dividen 30-Apr-20 04-Mei-20 05-Mei-20 18-Mei-20 112

INDY Cash Dividen 30-Apr-20 04-Mei-20 05-Mei-20 20-Mei-20 89

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



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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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