In their Jan 30 report, the analysts present the findings from a survey they conducted to gauge consumer behaviour, following concerns about the deceleration in e-commerce gross transaction value (GTV).
CLSA analysts Norman Choong and Aimee Garibaldi have kept their “buy” call on GoTo as they see the efforts from industry players to monetise outweighing the current headwinds.
That said, Chong and Garibaldi have lowered their target price to 165 rupiah (1.5 cents) from 425 rupiah previously on lower long-term revenue growth rate.
