Strengthening amid weakening CSPI, this is the second tier banking stock recommendation

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ILLUSTRATION. An employee counts the customer’s money at the Surabaya branch of the bjb bank on the sidelines of the inauguration of the building, Surabaya, East Java, Tuesday (17/4). Strengthening amid weakening CSPI, see the second tier banking stock recommendations. BETWEEN PHOTOS / Zabur Karuru / foc

Reporter: Akhmad Suryahadi | Editor: Tendi Mahadi

KONTAN.CO.ID – JAKARTA. Second-tier banking stocks managed to strengthen amid the Composite Stock Price Index (IHSG). Today, the Jakarta Composite Index closed down 0.04% to 4,987,082 and in a month of trading, the CSPI has fallen 0.95%.

PT Bank BRI Syariah Tbk (BREEZE) for example, managed to strengthen 14.14% to the level of Rp 452 per share today. Business entity PT Bank Rakyat Indonesia Tbk (BBRI) this even ranks among the top gainers in today’s trading.

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Bank shares owned by the Regional Government (Pemda), namely PT Bank Pembangunan Jawa Timur Tbk (BJTM) and PT Bank Pembangunan Daerah Jawa Barat Tbk (BJBR) also strengthened 3.81% and 6.71% respectively in today’s trade. BJTM and BJBR stock also strengthened 6.86% and 8.02% during the month, respectively.

Panin Sekuritas analyst William Hartanto said that the prices of these shares had gone up quite significantly. Thus, William recommends investors to wait for the correction momentum if they want to get into these stocks.

Meanwhile, Sucor Sekuritas Analyst Hendriko Gani considered that the shares of BRIS, BJTM and BJBR were interesting to watch. “BRIS shares can be seen if it holds above the level of Rp 446, the target price is around Rp 480,” Hendriko told Kontan.co.id, Tuesday (7/7).

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For BJTM shares, Hendriko set a target price of Rp 590 – Rp 600 per share if it managed to break the Rp 560 level. While for BJBR shares, the target was Rp 950 if it succeeded in breaking the Rp 865 level.

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