0347 GMT - Erajaya Swasembada stands to benefit from iPhone price increases in Indonesia, Bahana Sekuritas's Laras Nadira says in a research report. Apple Indonesia's recently announced prices of some iPhone 16 models are 250,000 rupiah higher than before, the analyst notes. As a top tech retail distributor in Indonesia, the company is likely to capitalize on this pricing roll-out and is well-placed to benefit from the upward price revision as handset sales comprise 78% of Erajaya Swasembada's revenue. The brokerage boosts its 2025 revenue forecast for the company by 3%. It raises the stock's target price to IDR650.00 from IDR550.00 with an unchanged buy rating. Shares closed 11% higher at IDR535.00 last Friday. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 11, 2025 23:47 ET (03:47 GMT)
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