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Elevator Pitch
Indonesia-listed retailer PT. Mitra Adiperkasa Tbk (PMDKY) (PMDKF) [MAPI:IJ] currently trades at 16.2 times consensus forward FY2020 P/E which represents a discount to its historical five-year average forward P/E of approximately 23 times. The stock also offers a consensus forward FY2020 dividend yields of 1.2%. I arrive at a target price of IDR1,403 for Mitra Adiperkasa, based on a 23 times forward