Key Indices


Top Stories
Company Update | Darma Henwa (DEWA IJ/BUY/Rp256/Target: Rp780)
- DEWA's operations are gaining traction, with 3Q26 margins improving following the Bengalon takeover and full in-house operations. SSC is ramping up, while potential South Sumatra and Halmahera contract wins could lift 2027 OB volume toward 200m BCM and drive core profit growth of 101.4% yoy. We maintain BUY with a lower target price of Rp780, reflecting higher WACC and more conservative earnings assumptions. Unpriced copper exposure offers further upside, although financing costs and execution risks remain.
Technical Analysis
Indocement Tunggal Prakarsa | INTP IJ
- Trading Buy Range: We have a technical Buy at Rp5,425, and take profit at Rp5,775.
Aspirasi Hidup Indonesia | ACES IJ
- Trading Buy Range: We have a technical Buy at Rp332, and take profit at Rp360.
Top Stories
Company Update | Darma Henwa (DEWA IJ/BUY/Rp256/Target: Rp780)
- DEWA's operations are gaining traction, with 3Q26 margins improving following the Bengalon takeover and full in-house operations. SSC is ramping up, while potential South Sumatra and Halmahera contract wins could lift 2027 OB volume toward 200m BCM and drive core profit growth of 101.4% yoy. We maintain BUY with a lower target price of Rp780, reflecting higher WACC and more conservative earnings assumptions. Unpriced copper exposure offers further upside, although financing costs and execution risks remain.
Technical Analysis
Indocement Tunggal Prakarsa | INTP IJ
- Trading Buy Range: We have a technical Buy at Rp5,425, and take profit at Rp5,775.
Aspirasi Hidup Indonesia | ACES IJ
- Trading Buy Range: We have a technical Buy at Rp332, and take profit at Rp360.
Key Indices


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