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Jan 16, 2017 09:52:51

Aneka Gas Industri: Reaping The Rewards Of Its 4-Year Expansion
 
We initiate coverage on AGI with a BUY recommendation and a DCF-derived IDR1,300 TP (44% upside), which implies 22.5x FY17F P/E and 0.24x PEG. The firm is Indonesia’s largest industrial gas company that sells oxygen, nitrogen and argon – gases that are widely used in fast growing sectors like food packaging, medical and infrastructure. Looking ahead, AGI is set to record a very high growth rate and diversified growth exposure as the company stands to benefit from its aggressive expansion over the past four years.

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