The issuer of PT Pakuwon Jati Tbk (PWON) has the opportunity to rise to the 650 level until the end of this year. Fundamentals that are good from the segment of rental income or recurring income are considered.
Although marketing sales throughout January to September 2018 fell 6%, but some analysts still recommend buying PWON shares.
NH Korindo Securities Research Analyst Michael Tjahjadi saw several positive catalysts such as several project launches in new and potential areas, namely Bekasi, making this stock worthy of collection.
Plus the incessant PWON in increasing land reserves, PWON's stock movement will be better than its peers.
Although the property industry itself is still unable to record a significant increase in share prices, due to the overall stagnant property conditions, PWON shares are worth buying.
"It is recommended to buy shares at a price of Rp. 595 per share," Michael said to Kontan.co.id, Tuesday (10/23).
Indopremier Sekuritas analyst Joey Faustian also recommended buying shares at a price of Rp 640 per share. The reason PWON's plan to convert Jakarta's retail space into a mall is very appropriate. Especially seeing consumers who tend to choose to do shopping at the mall.
Added to the factor is the existence of new investment property. Like Pakuwon Mall phase two to four, Kota Kasablanka office building, Tunjungan City Office, Westin and Four Points Hotel.
Today PWON's share price fell 8 points or 1.61% to Rp 488 per share.