Jasa Marga May Benefit From Exposure to High-Growth Road — Market Talk

About this update from Pt Jasa Marga (persero) Tbk Class B

Jasa Marga may benefit from its exposure to the high-growth Jakarta Outer Ring Road, Bahana Sekuritas analysts say in a research report. The brokerage's model estimates that this road, for which the Indonesian company manages some of the toll road network, will contribute 199 billion rupiah, or 8.8% of Ebitda growth over the next three years. This road has consistently shown better traffic growth than other toll roads combined, and the Indonesian company has noted drivers' willingness to pay higher for the road, up to 2,000 rupiah per kilometer versus Jakarta's average of 1,700 rupiah per kilometer. The brokerage initiates coverage of the stock with a buy rating and a target price of 3,500.00 rupiah. Shares are 0.75% higher at 2,700.00 rupiah. ([email protected])

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