Bisnis, JAKARTA — Analysts remain bullish on PT Telkom Indonesia (Persero) Tbk's stock despite its weakening performance over the past five months. The company also believes its financial performance will grow slightly this year compared to 2022.

TLKM closed at IDR3,680 on Monday (9/18/2023) after a notable drop of 1.08 percent compared to the end of last week.

With such a sharp decline, TLKM is now wading more profoundly into the red when measured by its performance throughout 2023. Specifically, TLKM has already declined by 1.87 percent year-to-date (YtD).

Previously, TLKM had strengthened to the level of IDR4,400 in April 2023. However, it has since reversed to a downward trend until now. This downtrend has been observed since last year when its price briefly touched IDR4,770.