Key Indices


Top Stories
Company Results | Buana Lintas Lautan (BULL IJ/BUY/Rp428/Target: Rp770)
- 1H26 came in above expectations, with revenue up 84.0% yoy and EBITDA up 191.1% yoy to US$71.2m, due to the 2Q26 jump in freight rates. Renewed Middle East escalation should keep rates elevated through 2027, and with the fleet now at 16 vessels and 23 in the pipeline, we raise 2026 EBITDA to US$145.0m and net profit to US$95.6m. Maintain BUY on BULL with a higher target price of Rp770, based on 6.0x 2026F EV/EBITDA, in line with global peers.
Technical Analysis
Telkom Indonesia | TLKM IJ
- Trading Buy Range: We have a technical Buy at Rp2,650, and take profit at Rp2,790.
Energi Mega Persada | ENRG IJ
- Trading Buy Range: We have a technical Buy at Rp1,450, and take profit at Rp1,520.
Top Stories
Company Results | Buana Lintas Lautan (BULL IJ/BUY/Rp428/Target: Rp770)
- 1H26 came in above expectations, with revenue up 84.0% yoy and EBITDA up 191.1% yoy to US$71.2m, due to the 2Q26 jump in freight rates. Renewed Middle East escalation should keep rates elevated through 2027, and with the fleet now at 16 vessels and 23 in the pipeline, we raise 2026 EBITDA to US$145.0m and net profit to US$95.6m. Maintain BUY on BULL with a higher target price of Rp770, based on 6.0x 2026F EV/EBITDA, in line with global peers.
Technical Analysis
Telkom Indonesia | TLKM IJ
- Trading Buy Range: We have a technical Buy at Rp2,650, and take profit at Rp2,790.
Energi Mega Persada | ENRG IJ
- Trading Buy Range: We have a technical Buy at Rp1,450, and take profit at Rp1,520.
Key Indices


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