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DUKE_EKSX_PARTNERS Duke Emerging Market Portfolio Management (Fall 2021) Oct 2021

As a state-backed multinational conglomerate, Telkom Indonesia (TLK) leverages their working relationship with the government to generate their 16.01% profit margin. We anticipate this margin will increase as the firm looks to deploy earnings and debt issuances towards projects aimed at growing their consumer base. This led the company to grow their revenue stream at an 8.80% annualized clip this past fiscal quarter. As it spits-out a healthy 3.26% yield, we believe the company is well positioned to capitalize on market developments in the coming months - leading our firm to develop a $31.02 price target.