Key Indices


Top Stories
Asian Gems Corporate Highlights | Erajaya Swasembada (ERAA IJ/BUY/Rp615/Target: Rp800)
- Maintain BUY with a target price of Rp800. ERAA continues to diversify beyond smartphones, with the higher-margin active lifestyle and accessories businesses now contributing 19% of revenue, up from 12% in 1H24. Erablue and ERAL continued to outperform, posting 7M26 SSSG of 15.9% and 7.7% respectively. Management maintained its 2026 guidance of single-digit SSSG growth and around 340 net store additions, while resuming a Rp500b share buyback of up to 5% of outstanding shares.
Technical Analysis
Merdeka Battery Materials | MBMA IJ
- Trading Buy Range: We have a technical Buy at Rp525, and take profit at Rp565.
Pertamina Geothermal Energy | PGEO IJ
- Trading Buy Range: We have a technical Buy at Rp1,085, and take profit at Rp1,140.
Top Stories
Asian Gems Corporate Highlights | Erajaya Swasembada (ERAA IJ/BUY/Rp615/Target: Rp800)
- Maintain BUY with a target price of Rp800. ERAA continues to diversify beyond smartphones, with the higher-margin active lifestyle and accessories businesses now contributing 19% of revenue, up from 12% in 1H24. Erablue and ERAL continued to outperform, posting 7M26 SSSG of 15.9% and 7.7% respectively. Management maintained its 2026 guidance of single-digit SSSG growth and around 340 net store additions, while resuming a Rp500b share buyback of up to 5% of outstanding shares.
Technical Analysis
Merdeka Battery Materials | MBMA IJ
- Trading Buy Range: We have a technical Buy at Rp525, and take profit at Rp565.
Pertamina Geothermal Energy | PGEO IJ
- Trading Buy Range: We have a technical Buy at Rp1,085, and take profit at Rp1,140.
Key Indices


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