JP Morgan Cut Target Price Indofood to 4,650/share

Indofood Sukses Makmur (INDF) was rated "Neutral" from "Overweight" by Stevanus Juanda, analyst JP Morgan Chase & Co. 

Stevanus said the lack of a "major catalyst" after the listing of a packaged-foods unit. The brokerage reduced the share price estimate to 4,650 rupiah from 5,000 rupiah.