The surge in global reported infection evolved deteriorated economy and volatile equity markets during 1Q20. The markets heavily banks on “whatever-necessary” relief measures to buffer the damages caused by the virus. We pencil in stocks of the consumer goods sector to have the most defensive performance and least exposures of contraction with respect to the pandemic severity and time span. NHKSI taking into account at analysis recommends ICBP as this week’s top stock pick as it is potential for hitting the price target of IDR12,875 based on the P/E trailing band of 24.0x.

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