STOCKS NEWS INDONESIA-Trimegah cuts Astra, Indomobil target price

Newswire

Trimegah Securities slashed its target price on shares of auto makers Astra International Tbk and Indomobil Sukses Makmur on expectations of lower growth in car sales. "We reduce our 2013 four-wheel (4W) sales estimate to 1.23 million units from 1.28 million," Trimegah analyst Frederick Daniel Tanggela said in a note on Wednesday, adding it expects slower growth in four-wheeler sales in the second half of 2013 despite higher sales growth from Suzuki and Honda. ...

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