
Top Stories
Company Update | Japfa Comfeed Indonesia (JPFA IJ/BUY/Rp2,080/Target: Rp3,330)
We expect JPFA to deliver another solid set of results in 2Q26, despite lower qoq earnings due to seasonal factors. Beyond this, we believe the company's structural growth story remains intact, supported by healthier industry dynamics, its position as an integrated low-cost producer, and continued downstream expansion. We maintain our BUY rating with a target price of Rp3,330, based on 8x 2026F PE.
Technical Analysis
Petrindo Jaya Kreasi | CUAN IJ
Trading Buy Range: We have a technical Buy at Rp730, and take profit at Rp795.
Darma Henwa | DEWA IJ
Trading Buy Range: We have a technical Buy at Rp436, and take profit at Rp466.

Top Stories
Company Update | Japfa Comfeed Indonesia (JPFA IJ/BUY/Rp2,080/Target: Rp3,330)
We expect JPFA to deliver another solid set of results in 2Q26, despite lower qoq earnings due to seasonal factors. Beyond this, we believe the company's structural growth story remains intact, supported by healthier industry dynamics, its position as an integrated low-cost producer, and continued downstream expansion. We maintain our BUY rating with a target price of Rp3,330, based on 8x 2026F PE.
Technical Analysis
Petrindo Jaya Kreasi | CUAN IJ
Trading Buy Range: We have a technical Buy at Rp730, and take profit at Rp795.
Darma Henwa | DEWA IJ
Trading Buy Range: We have a technical Buy at Rp436, and take profit at Rp466.
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