TLK - Telekomunikasi Indonesia: A Buy For The Short Term And The Long Run

2024-02-04 02:38:52 ET

Summary

• Telekomunikasi Indonesia's mobile and broadband businesses could perform above expectations in the short term, considering the favorable market environment for the Indonesian mobile industry and its attractive Telkomsel Orbit offering.
• For the long term, TLK's data center still has a long growth runway ahead, taking into account its overseas market expansion plans.
• Telekomunikasi Indonesia deserves a Buy rating based on a comparison of its valuations with its growth outlook.

Elevator Pitch

I still rate PT Telekomunikasi Indonesia Tbk ( TLK ) [TLKM:IJ] as a Buy.

My previous update written on November 20, 2023 highlighted a number of positive factors for TLK such as the potential monetization of non-core businesses and the setting up of a new infrastructure company....

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