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Growth in 2016 on track; Maintain BUY We maintain our BUY rating on JSMR with TP of IDR6,500, translating to 2016 PE of 25x, in line with 5-year historical mean. Recent share-price correction was overdone, in our view, given removal of overhang on tariff adjustment. We believe that risk of potential government intervention has abated, ..

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Company note 27 November 2015 JSMR IJ / JSMR.JK | ADD – Maintained | Rp4,810.00 tp:Rp7,600.00▲ Mkt.Cap:US$2,380.00m | Avg.Daily Vol:US$2.13m | Free Float:30.00% Author(s):Erindra KRISNAWAN, CFA +62 (21) 30061732, Laura TASLIM ■ 10M15 traffic growth of 4.5% above our forecast; maintain 2016 traffic growth of 3.8% and 11% revenue growth forecasts ■ The establishment of ..

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