XL AXIATA: Inflection point approaches as predatory date price points reached - reiterate Buy EXCL

XL AXIATA: Inflection point approaches as predatory date price points reached - reiterate Buy EXCL

We reiterate Top-3 Incumbents GSM Operators benefit from Competition consolidation in both Voice and Data. We reiterate Overweight Indonesia Telecom sector and Buy EXCL (@Rp5,150 on 17.6x 2013F PER and DCF Rp7,500) on bottoming earnings!