Analyst Recommends Buy Indofood

VIVAnews - A research team of PT BNI Securities Tbk. is targeting that PT Indofood Sukses Makmur Tbk. (INDF)'s share price would reach Rp 1,250 in the next 12 months. The team is still optimistic that consumption sector and Indofood's businesses will still grow.

"[The company's] earning ratio level of 14.53 is one of the considerations," said an analyst from BNI Securities Akhmad Nurcahyadi on April 29 in the research.

"We still have an optimistic point of view on this year's Indofood's growth," he added.

Bogasari, one of the company's main contributors of consolidated sale, is also predicted to have a slight decrease in contribution by booking income Rp 16.29 trillion (US$1.51 billion).

"However, the plantation business is projected to reach Rp 18.69 trillion (US$1.73 billion) with total income of Rp 42.16 trillion (US$3.9 billion) and net profit growth reaching Rp 1.11 trillion (US$102.91 million)," he explained.

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Translated by: Ariyantri E. Tarman

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