In the near term of the next six to eight months, the analysts estimate GoTo’s gross transactional value (GTV) growth in both on-demand and e-commerce to be soft, led by normalisation.
Bank of America (BoFA) Securities has initiated “neutral” on GoTo with a target price of IDR125 as its risk-reward is balanced, according to analysts Sachin Salgaonkar, Sukriti Bansal and Shalav Saket.
In their July 3 report, the analysts consider GoTo’s position in the Indonesia market as strong, citing it as one of the beneficiaries of the digitalisation boom.
