GGRM Q4 2021 Result

Contact our analyst Eka BUY, 22% upside 11th April 2022 Price Rp 30,800 Target price Rp 37,600 Investment Consideration Fastest quarterly growth 4Q2021 Results: Lower margins Valuation: Maintain BUY, but lower TP 37.600

GGRM Q1 2022 Result

Contact our analyst Eka Hold, 11% upside 6th July 2022 Price Rp 31,750 Target price Rp 35,240 Investment Consideration Sales decline while peers rise Lower margins Valuation: HOLD, TP 35,240

GGRM Q2 2022 Result

Contact our analyst Eka Hold, 16% upside 11th August 2022 Price Rp 25,400 Target price Rp 29,530 Investment Consideration Sales Increased 2Q2022 Results: But bottom line was a loss Valuation: HOLD, TP 29,530

GGRM Q3 2022 Result

Contact our analyst Eka BUY, 27% upside 6th January 2023 Price Rp 16,600 Target price Rp 21,200 Investment Consideration Stable sales Excise tax hike 3Q2022 Results: More pressure from higher excise tax Valuation: BUY, TP 21,200

GGRM Q1 2023 Result

Contact our analyst Eka BUY, 22% upside 16th May 2023 Price Rp 29,000 Target price Rp 35,500 Investment Consideration Stable sales 1Q2023 Results: Margin improvement Valuation: BUY, TP 35,500

GGRM Q2 2023 Result

Contact our analyst Eka BUY, 40% upside 16th October 2023 Price Rp 25,025 Target price Rp 35,000 Investment Consideration Lower sales, higher ASP 2Q2023 Results: Better YoY performance Valuation: BUY, TP 35,000