.jpeg "Ekspektasi Investor Rendah, CIMB Sekuritas Revisi Turun Target Harga Bukalapak (BUKA)") |
| Ekspektasi Investor Rendah, CIMB Sekuritas Revisi Turun Target Harga Bukalapak (BUKA) |
CGS CIMB Sekuritas cut down the target price of PT Bukalapak.com Tbk's (BUKA) stock from Rp 600 to Rp 350 with a recommendation to maintain add. The downward revision illustrates the low expectations of investors for the company's business.
CIMB Sekuritas in its latest research states that Bukalapak has net cash equivalent to 70% of its market capitalization or the highest in its segment. This illustrates the low expectations of investors towards the company's business.
However, CIMB Sekuritas believes that the collaboration of Bukalapak Partners with Transmart by forming a joint venture company AlloFresh is expected to be the key to the sustainability of the B2B business model. This collaboration can reduce costs in the long run.
"We consider that this collaboration is one of the keys to the growth of Bukalapak Partners in the long term. This collaboration can reduce costs and increase sales,” he wrote in the research.
Regarding monetization, CIMB Sekuritas said it was expected to run faster, along with the increase in commission rates Bukalapak merchants ranging from 50-100 bps starting July 1, 2022.
company, he explained, would also be helped from the increasingly difficult start-up which could have an impact on reducing the level of competition. Moreover, several digital companies engaged in the e-commerce begun to reduce their ambitions.
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