WTON
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96% upside
26th December 2018
Current price Rp 372
Target price Rp 730
26th December 2018
Current price Rp 372
Target price Rp 730
Strong Order Book
- Up to September 2018, WTON booked new contracts worth IDR. 5,38 trillion or 71% of the total new contract target for 2018 of 7.56 trillion.
- Based on the 9M18 results, we are maintaining our forecast total order book growth of 15% CAGR during 2018F-2019F compared to 2017A.
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Balikpapan – Samarinda toll road
- WTON is working on the Balikpapan-Samarinda project through WIKA as project owner along with three other consortiums JSMR, BCS, and PTPP.
- The project progress by November 9th is that WTON has completed work on 629,000 cubic meters with another 229000 cubic meters to go.
- With WACC 8.5%. we are targeting a price within one year of IDR. 730/shares or trading at 14.8x PER, which gives 96% upside compared to the current closed price. BUY.
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