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CGS-CIMB initiates 'hold' on GoTo Gojek Tokopedia with 0.5% upside in target price

Felicia Tan
Felicia Tan6/28/2022 09:49 AM GMT+08  • 3 min read
CGS-CIMB initiates 'hold' on GoTo Gojek Tokopedia with 0.5% upside in target price
The group handles some 70% of Indonesia’s household consumption through its three business segments. Photo: Bloomberg
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CGS-CIMB Research analysts Ryan Winipta, Baruna Arkasatyo and Hadi Soegiarto are initiating coverage on GoTo Gojek Tokopedia with a “hold” recommendation, as it sees the group being “at the crossroads”.

The analysts have given the group a target price of 396 rupiah (3.7 cents), which represents an upside of 0.5% to its current share price of 394 rupiah.

The group is Indonesia’s leading ecosystem with a high volume of use cases. The group handles some 70% of Indonesia’s household consumption through its three business segments, which are on-demand services, e-commerce and financial services.

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