Pertamina Geothermal Energy, ID1000186505

Abida raises target for Pertamina Geothermal Energy stock to IDR 1,300

Published on 10/13/2026 at 10:00 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Free float was 11.10 percent versus 15.00 percent on October 12, 2026. Pertamina Geothermal Energy stock was IDR 970 on October 13, 2026.

Abida Massi Armand raised the target for Pertamina Geothermal Energy stock to IDR 1,300 from IDR 1,250 on October 12, 2026.
Free float stood at 11.10 percent versus the 15.00 percent minimum required by March 2027.
First-half 2026 revenue rose 14.70 percent to USD 235.027 million and net income increased 15.48 percent to USD 79.605 million.
The stock was IDR 970 on the Indonesia Stock Exchange on October 13, 2026, against a 52-week range of IDR 770 to IDR 1,465.

Pertamina Geothermal Energy, ID1000186505, Illustration mit AI erstellt.

Abida Massi Armand raised her target for Pertamina Geothermal Energy stock to IDR 1,300 from IDR 1,250 on October 12, 2026, according to Kontan. The call comes as free float stood at 11.10 percent, below the 15.00 percent minimum required by March 2027.

Three operating milestones

On October 5, 2026, ANTARA reported first-half 2026 net income of USD 79.605 million, up 15.48 percent year over year. On October 7, 2026, Bisnis.com reported first-half revenue of USD 235.027 million, up 14.70 percent from USD 204.850 million in the same period of 2025.

The latest milestone was the October 12, 2026 target change reported by Kontan. The sequence matters because the stock combines double-digit first-half earnings growth with a capital-market requirement that may influence the shareholder structure.

What does free float mean for expansion?

Kontan reported that installed capacity is projected to rise from 727 megawatts in 2026 to 988 megawatts in 2028. The same report cited a 30-megawatt Ulubelu Binary project targeted for operation in 2027 and a combined 110 megawatts at Hululais targeted for 2028.

The counterweight is execution. Kontan identified project delays, higher capital expenditure and power-purchase-agreement timing as risks. It also reported that current geothermal electricity tariffs stood at 9.50 US cents per kilowatt-hour, a level that can constrain the economics of new greenfield projects.

October testing and fourth-quarter contracts

Bisnis.com reported that the GTG-B1 well at the Gunung Tiga project was scheduled for a production test in October 2026, with commercial operation targeted for 2029. The company also targeted a power-purchase agreement for its 230-megawatt Co-Generation project in the fourth quarter of 2026.

Stock remains below its yearly high

Pertamina Geothermal Energy stock was IDR 970 on the Indonesia Stock Exchange on October 13, 2026. The 52-week range was IDR 770 to IDR 1,465, while market capitalization stood at IDR 40.6 trillion on that date.