Key Indices


Top Stories
Company Update | Telkom Indonesia (TLKM IJ/BUY/Rp2,370/Target: Rp3,300)
- Maintain BUY with a lower target price of Rp3,300 based on 5.1x 2026F EV/EBITDA, or -0.5SD to its five-year mean. We see TIF as the key value-unlocking catalyst, with Phase 2 expected to complete in early-4Q26 and potential for a strategic stake sale thereafter. TLKM also offers an attractive 10.3% 2027F dividend yield, supported by improving mobile ARPU and ongoing ERP-led efficiency gains, despite potential execution risks.
Technical Analysis
Dian Swastatika Sentosa | DSSA IJ
- Trading Buy Range: We have a technical Buy at Rp1,085, and take profit at Rp1,135.
J Resources Asia Pasifik | PSAB IJ
- Trading Buy Range: We have a technical Buy at Rp530, and take profit at Rp575.
Top Stories
Company Update | Telkom Indonesia (TLKM IJ/BUY/Rp2,370/Target: Rp3,300)
- Maintain BUY with a lower target price of Rp3,300 based on 5.1x 2026F EV/EBITDA, or -0.5SD to its five-year mean. We see TIF as the key value-unlocking catalyst, with Phase 2 expected to complete in early-4Q26 and potential for a strategic stake sale thereafter. TLKM also offers an attractive 10.3% 2027F dividend yield, supported by improving mobile ARPU and ongoing ERP-led efficiency gains, despite potential execution risks.
Technical Analysis
Dian Swastatika Sentosa | DSSA IJ
- Trading Buy Range: We have a technical Buy at Rp1,085, and take profit at Rp1,135.
J Resources Asia Pasifik | PSAB IJ
- Trading Buy Range: We have a technical Buy at Rp530, and take profit at Rp575.
Key Indices


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