Sarana Mentara Nusantara Likely Undertaking Disciplined Expansion — Market Talk

About this update from Pt Sarana Menara Nusantara Tbk

Sarana Menara Nusantara is likely undertaking disciplined expansion, UOB Kay Hian analysts say in a research report as the brokerage maintains the stock's buy rating. The Indonesian telecom tower operator continues to expand its asset base in a disciplined manner, ending 1Q with around 36,572 towers and 181,700 kilometers of fibre optic network, the analysts note. Management guides for another 400-600 new towers in 2026, with stable capital expenditure of around 5 trillion rupiah. However, the brokerage lowers its stock target price to 530.00 rupiah from 620.00 rupiah as it uses a narrower reference period of valuation to better reflect structural de-rating of the sector. Shares are 1.1% higher at 378.00 rupiah. ([email protected])

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