Elevator Pitch
I maintain a "Neutral" rating on Indonesia-listed telecommunications services company PT Indosat Tbk (OTCPK:PTITF) [ISAT:IJ].
This is an update of my prior article on Indosat published on March 6, 2020. Indosat's share price has declined by -6% from IDR2,240 as of March 5, 2020 to IDR2,110 as of May 27, 2020 since my last update. Indosat trades at 3.4 times consensus forward next twelve months' EV/EBITDA, which represents a discount to its historical five-year and 10-year mean consensus forward next twelve months' EV/EBITDA multiples of 4.2 times and 4.4 times, respectively.