Equity Analysis /
Indonesia

Bukalapak: The reaction to our grave concerns about valuation

  • We present the feedback on our Sell call on Bukalapak

  • The reactions range from acquiescence to anger

  • We reiterate our Sell with 24% downside to our unchanged target price of IDR413

Bukalapak: The reaction to our grave concerns about valuation
Nirgunan Tiruchelvam
Nirgunan Tiruchelvam

Head of Consumers Equity Research

Tellimer Research
13 December 2021
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