Top Stories
Company Update | Erajaya Swasembada (ERAA IJ/BUY/Rp350/Target: Rp450)
We maintain our BUY call with a lower target price of Rp450 as we expect ERAA’s earnings to normalise following a strong 1Q26 and the exceptionally high comparison base from the iPhone 16 and 17 launches in 2025. While near-term headwinds persist from softer mid-range demand, supply constraints and forex, premium demand remains resilient. We also expect newer growth initiatives, including active lifestyle expansion and XPENG, to support long-term growth, although meaningful earnings contributions will require additional time.
Technical Analysis
Super Bank Indonesia | SUPA IJ
Trading Buy Range: We have a technical Buy at Rp590, and take profit at Rp675.
Bukit Asam | PTBA IJ
Trading Buy Range: We have a technical Buy at Rp2,400, and take profit at Rp2,560.
Top Stories
Company Update | Erajaya Swasembada (ERAA IJ/BUY/Rp350/Target: Rp450)
We maintain our BUY call with a lower target price of Rp450 as we expect ERAA’s earnings to normalise following a strong 1Q26 and the exceptionally high comparison base from the iPhone 16 and 17 launches in 2025. While near-term headwinds persist from softer mid-range demand, supply constraints and forex, premium demand remains resilient. We also expect newer growth initiatives, including active lifestyle expansion and XPENG, to support long-term growth, although meaningful earnings contributions will require additional time.
Technical Analysis
Super Bank Indonesia | SUPA IJ
Trading Buy Range: We have a technical Buy at Rp590, and take profit at Rp675.
Bukit Asam | PTBA IJ
Trading Buy Range: We have a technical Buy at Rp2,400, and take profit at Rp2,560.
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