STOCK VALUATION ANALYSIS OF PT. ADI SARANA ARMADA TBK
Since the 2012 IPO, PT. Adi Sarana Armada (ASSA) has grown relatively stable along with the increase in the field of business owned. With risk, a high level of competition and an increase in the price of the dollar which is quite a hit for issuers in the transportation sector, ASSA managed to show a...
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| Format: | Theses |
| Language: | Indonesia |
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| Online Access: | https://digilib.itb.ac.id/gdl/view/41590 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | Since the 2012 IPO, PT. Adi Sarana Armada (ASSA) has grown relatively stable along with the increase in the field of business owned. With risk, a high level of competition and an increase in the price of the dollar which is quite a hit for issuers in the transportation sector, ASSA managed to show a pretty good performance. At the beginning of the first quarter of 2019, ASSA's shares have risen dramatically with a rough range of 300% from the price of Rp. 364 per share to Rp. 860 on March 1, 2019. For investors this is a quite interesting phenomenon to be explored in depth about the causes of rising stock prices this drastic. The sudden increases might have pushed back the price into previous level.
Based on the discount cash flow analysis of the ASSA, the target price for ASSA is below -15% range at Rp 1163 per share or 44.49 potential upside compared to the recent 31 May 2019 market price of Rp 805 per share. The target price is also supported by relative valuation result by Rp 1097 per share, and the EV/EBITDA results with Rp 1,130 per share
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