BRI's Financial Performance Draws Analysts' Recommendations for its Shares
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Thursday, November 9, 2023
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(IDX: BBRI)'s financial performance in Q3 2023 has ignited recommendations among analysts, who now advise 'buy' or 'hold' due to promising performance in the microsegment sector.
Key Points:
- (IDX: BBRI)'s financial performance in Q3 2023 has ignited recommendations among analysts, who now advise 'buy' or 'hold' due to promising performance in the microsegment sector.
- PT UBS Sekuritas Indonesia's report raises BRI's target price to IDR 6,925, a 2-3% increase from their previous projection of IDR 6,700.
- Furthermore, BNI Sekuritas targets BRI's price at IDR 6,000, in line with its current 1-year Price-to-Book Value of 2.3x, matching its 5-year average.
- Despite asset quality challenges in Q3-2023 for mass-market-focused financial institutions, Q4 improvements propelled by election-related funding are expected.