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Furthermore, Nico stated that EXCL demonstrated its ability to maintain service performance, evidenced by an 11% surge in traffic during the 2024 Election, compared to regular days.
“This places EXCL as the second highest among other MNOs, with Indosat leading with a traffic increase of 12%, followed by Telkomsel at 8.4%,” he revealed.
Not only that, he mentioned, traffic during Eid al-Fitr also increased by 7%-20% this year. Reflecting on last year's Eid, XL also managed to record a 30% increase in data traffic, followed by Indosat at 25%, Smartfren 14%, and Telkomsel 11%.
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In line with this, Sukarno Alatas, an Analyst at Kiwoom Securities, also sees that the prospects for EXCL's performance will grow positively this year, in line with the successful projected acquisition of Link Net, which has the potential to generate substantial revenue.
“Meanwhile, the price prospects in line with the estimated growth performance and with the valuation conditions that tend to be cheaper, from the PBV side compared to peers this, have the opportunity to make the price more attractive,” Sukarno said when contacted by Kontan.co.id, Monday (22/4).
Sukarno mentioned, that positive sentiment to support EXCL's performance this year, comes from the predicted increase in revenue, the acquisition business of Link Net, and service expansion.
Sukarno recommends trading buy for EXCL with a target price of Rp 2,500 per share. Meanwhile, Nico recommends buying for EXCL with a target of Rp 2,800 per share.
