Equity Analysis /
Indonesia

ID : Link Net - Strong subs in FY20; migration on track

    Willy Suwanto
    Willy Suwanto

    Research Analyst

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    CGS-CIMB
    21 January 2021
    Published byCGS-CIMB

    LINK recorded strong subs addition of 171k to 839k subs and added 211k home passes to 2.68m in FY20. Penetration rate reached 31.3%. Meanwhile, migration remains under budget and on track, having migrated 65.1k poles from PLN. Positive investment list serves as key share re-rating catalyst. Reiterate Add with TP of Rp3,850.