The share price of PT Blue Bird Tbk (BIRD) flew quite high in May. The share price of the issuer, which is involved in the transportation business, jumped 20.29% year to date (ytd) and rose 37.19% in the past month.
Even so, in the last trading month of May, BIRD shares dipped 120 points or fell 6.74%. So that the BIRD stock price is parked at the level of Rp. 1,660 until the close of trading on Tuesday (31/5).
Equity Research Analyst Pilarmas Investindo Sekuritas Desy Israhyanti sees the strengthening of BIRD's share price cannot be separated from the improvement of its business performance. The easing of community mobility in line with the COVID-19 transition from a pandemic to an endemic is a positive catalyst that boosts BIRD's performance and prospects this year.
"BIRD's prospects will still be good, which is driven by loose mobility. For stock movements, the predictions are short-term, considering the prospects are still good," Desy told Kontan.co.id, Wednesday (1/6).
Just a reminder, in the first quarter of 2022, BIRD posted a net income of IDR 673.98 billion. BIRD's revenue jumped 40.39% from the same period last year.
BIRD was also able to reverse its net loss position into net profit in the first quarter of this year, to Rp 47.14 billion. Whereas in the same period last year, BIRD still bears a loss of Rp 28.25 billion.
Jasa Utama Capital Sekuritas analyst Cheryl Tanuwijaya views BIRD's potential to continue its performance growth is still wide open in the second quarter of this period. "With the various positive sentiments that exist, the demand for BIRD services will certainly increase and the revenue can increase," said Cheryl.
As for the decline in BIRD's share price that occurred on Tuesday (31/5), Cheryl considered it a reasonable profit-taking action. Considering that in the previous few days there has been a significant increase in share prices.
Especially with the red holiday in the middle of the week, it is natural for investors to realize profits first. Cheryl is still providing buy recommendations for BIRD shares with a target price of Rp 2,000.
"We see that the trend is still going up as long as the Covid-19 case does not again cause restrictions on people's activities," added Cheryl.
Equity Analyst Kanaka Hita Solvera William Wibowo also projects that BIRD can continue its performance growth in Q2-2022. The increase in community mobility in the midst of the pandemic to endemic transition has brought positive catalysts for issuers of transportation services, including BIRD.
Technically, BIRD's share price has the potential to continue strengthening again considering that the price has just broken an important resistance in the area of Rp 1,760. "Market participants can observe price movements, while preparing an appropriate buying strategy," said William.
He suggested that investors pay attention to the BIRD stock support area at Rp 1,570 and Rp 1,495 as well as resistance at Rp 1,760 and Rp 1,955.
MNC Sekuritas Technical Analyst Herditya Wicaksana views the increase in BIRD's shares in the last few days is quite significant with high volume. Yesterday's correction could be possible as a reasonable profit-taking action.
Herditya provides a buy on weakness recommendation. "As long as BIRD is still able to stay above the support level of Rp. 1,530, we estimate that BIRD's correction will be relatively limited and have the opportunity to strengthen again," said Herditya.
Contacted separately, BIRD Deputy President Director Adrianto Djokosoetono agreed that along with the recovery of community mobility, BIRD's business performance growth was also maintained. Meanwhile, related to capital expenditure (capex), most of which will be realized in the next second semester.
"The easing of activities by the government also adds to the consistency of future developments. Until now (capex) is still within the budget," Adrianto said when contacted by Kontan.co.id, Wednesday (1/6).
source : https://id.tradingview.com/
