Key Indices


Top Stories
Company Update | Bank Negara Indonesia (BBNI IJ/HOLD/Rp3,710/Target: Rp4,150)
- BBNI’s 7M26 PPOP grew 13.6% yoy, but net profit growth of 5.5% continued to lag rapid balance-sheet expansion. Loan growth accelerated to 28.4% yoy, although NII growth lagged at 14.1%, reflecting the wholesale/SOE-heavy mix. Government liquidity provides a buffer, but underlying liquidity remains relatively tight. We maintain HOLD with a target price of Rp4,150 as BBNI’s evolving SOE role warrants monitoring of sustainable returns, although cheap valuation and improving sentiment could offer tactical upside.
Technical Analysis
Bumi Resources | BUMI IJ
- Trading Buy Range: We have a technical Buy at Rp193, and take profit at Rp212.
Petrindo Jaya Kreasi | CUAN IJ
- Trading Buy Range: We have a technical Buy at Rp810, and take profit at Rp860.
Top Stories
Company Update | Bank Negara Indonesia (BBNI IJ/HOLD/Rp3,710/Target: Rp4,150)
- BBNI’s 7M26 PPOP grew 13.6% yoy, but net profit growth of 5.5% continued to lag rapid balance-sheet expansion. Loan growth accelerated to 28.4% yoy, although NII growth lagged at 14.1%, reflecting the wholesale/SOE-heavy mix. Government liquidity provides a buffer, but underlying liquidity remains relatively tight. We maintain HOLD with a target price of Rp4,150 as BBNI’s evolving SOE role warrants monitoring of sustainable returns, although cheap valuation and improving sentiment could offer tactical upside.
Technical Analysis
Bumi Resources | BUMI IJ
- Trading Buy Range: We have a technical Buy at Rp193, and take profit at Rp212.
Petrindo Jaya Kreasi | CUAN IJ
- Trading Buy Range: We have a technical Buy at Rp810, and take profit at Rp860.
Key Indices


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