0250 GMT - Telkom Indonesia could face near-term execution risks amid some uncertainty from management changes and asset reorganization, UOB Kay Hian analysts Willinoy Sitorus and Andrew Agita Buntoro say in a note. The company's early retirement program and broader organizational streamlining should improve efficiency over time, but restructuring costs could continue to pressure near-term earnings. Consolidating Telkom Indonesia's wholesale fiber connectivity business into Telkom InfraCo strengthens its scale ahead of a potential strategic stake sale. UOB Kay Hian maintains its Buy rating but cuts its target price to 3,300 Indonesian rupiah from IDR3,600. Shares are down 0.4% at IDR2,240.