Reasons Behind JP Morgan Choosing PGAS, ADRO & ADMR as Foreign Investors Turn Cautious
JP Morgan favors PGAS, ADRO, and ADMR for their US dollar revenue amid cautious foreign investor sentiment due to policy uncertainties in Indonesia.
(Bisnis.Com) 01/01/70 07:00 149413
Bisnis.com, JAKARTA — JP Morgan has shortlisted PT Perusahaan Gas Negara Tbk. (PGAS), PT Alamtri Resources Indonesia Tbk. (ADRO), and PT Alamtri Minerals Indonesia Tbk. (ADMR) as its premier equity picks within Indonesia’s energy and utilities landscape, as foreign investors tread carefully amid policy uncertainty and persistent capital outflows from the domestic market.
In its report Indonesia Energy and Utilities, JP Morgan analysts Arnanto Januri and Benny Kurniawan said foreign investor sentiment toward Indonesia remains broadly cautious. The tone surfaced during the bank’s recent investor meetings in Singapore as part of a marketing trip.
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