Projects JCI To Reach 7,400 Until The End Of 2022, BNI Sekuritas Recommends Several Leading Stocks

Photo: Doc. BUTTER

JAKARTA - PT BNI Sekuritas projects the Jakarta Composite Index (JCI) to reach the level of 7,400 by the end of this year. This growth was driven by a number of sentiments both domestically and globally. BNI Sekuritas sees that there are several sectors that investors can observe in the second quarter of 2022, from banking, telecommunications to toll roads.

BNI Sekuritas Equity Research Aurelia Setiabudi said that one of the positive sentiments that pushed the JCI to reach the 7,400 level was Indonesia's geopolitical position which was considered stable. So, Indonesia will not experience problems or heat up like other countries.

Furthermore, Aurelia said the top picks for the second quarter of 2022 were PT Astra International Tbk (ASII) with a target price (TP) of IDR 7,500, because the sales trend was good.

"This year, their monthly sales increased by 50,000 units per month. The ASII market also continues to grow," he said in the Media Gathering Market Outlook 2022, Thursday, March 31.

Then, PT Bank Mandiri (Persero) Tbk (BMRI) also became one of BNI Sekuritas' top picks with a target price of Rp 8,400 per share.

Aurelia said the strengthening of the index will also be driven by technology companies that will soon be listed on the Indonesia Stock Exchange (IDX), namely PT Gojek Tokopedia GoTo.

"We see that the JCI in the first quarter of 2022 has increased by 5 percent and this will continue in the future because it will be supported by the IPO from GoTo," he explained.

Furthermore, Aurelia said that the prospect of GoTo is very good for JCI's performance because this prospective issuer is one of the largest technology companies in Southeast Asia and is also the framework of the IPO. Where foreign executions or foreign investors cannot place orders at the time of the IPO, so they have to buy through the secondary market.

"So we see some of these factors as catalysts for the movement of the JCI in the future," he said.

In the telecommunications sector, said Aurelia, then PT XL Axiata Tbk (EXCL) with a TP of IDR 3,770, because it just acquired PT Link Net Tbk (LINK) with a target price of IDR 5,000.

"This will increase EXCL's profit and LINK will get customer growth opportunities from operator consolidation," he said.

Meanwhile, for the toll road sector, Aurelia said there are shares of PT Jasa Marga Tbk (JSMR) with a target price of Rp. 5,000. This stock is recommended because of the Eid momentum, thereby increasing community mobility.

Then, what needs to be observed next is the shares of PT Mitra Adiperkasa Tbk (MAPI) with a target price of Rp.990. The momentum of Eid and the easing of mobility has a positive impact on MAPI.

Then, PT Vale Indonesia Tbk (INCO) with a target price of IDR 6,500. According to him, the continued increase in nickel prices will benefit INCO as one of the world's largest nickel mines

Next up are PT Adi Sarana Armada Tbk (ASSA) with a TP of Rp4,100 and PT Summarecon Agung Tbk (ASSA) with an TP of Rp1,200. Aurelia said SMRA was recommended in line with the potential for high property demand this year.