Key Indices


Top Stories
Company Results | Telkom Indonesia (TLKM IJ/BUY/Rp1,880/Target: Rp3,300)
- TLKM’s results are in line with our and consensus forecasts. We expect operating trends to improve in 4Q26 as pricing pressure eases and ARPU recovers seasonally. TIF remains the key value-unlocking catalyst, although further BUMN asset consolidation and management changes could delay monetisation. An attractive 2027 dividend yield of 13.1% provides downside support. Maintain BUY with an unchanged target price of Rp3,300 based on 4.7x 2027F EV/EBITDA, or -1SD to its five-year mean.
Technical Analysis
Mitra Keluarga Karyasehat | MIKA IJ
- Trading Buy Range: We have a technical Buy at Rp1,310, and take profit at Rp1,395.
Indofood Sukses Makmur | INDF IJ
- Trading Buy Range: We have a technical Buy at Rp6,475, and take profit at Rp6,800.
Top Stories
Company Results | Telkom Indonesia (TLKM IJ/BUY/Rp1,880/Target: Rp3,300)
- TLKM’s results are in line with our and consensus forecasts. We expect operating trends to improve in 4Q26 as pricing pressure eases and ARPU recovers seasonally. TIF remains the key value-unlocking catalyst, although further BUMN asset consolidation and management changes could delay monetisation. An attractive 2027 dividend yield of 13.1% provides downside support. Maintain BUY with an unchanged target price of Rp3,300 based on 4.7x 2027F EV/EBITDA, or -1SD to its five-year mean.
Technical Analysis
Mitra Keluarga Karyasehat | MIKA IJ
- Trading Buy Range: We have a technical Buy at Rp1,310, and take profit at Rp1,395.
Indofood Sukses Makmur | INDF IJ
- Trading Buy Range: We have a technical Buy at Rp6,475, and take profit at Rp6,800.
Key Indices


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