MAPI stock receives a Hold rating with IDR 1,700 target

Published on 10/08/2026 at 09:58 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

MAPI stock stood at IDR 1,540 on October 8, 2026, after a 0.65 percent intraday decline. First-half revenue reached IDR 24.2 trillion, up 23.4 percent year over year.

MAPI, ID1000099807, Illustration mit AI erstellt.

MAPI stock was last at IDR 1,540 on October 8, 2026 at 2:40 p.m. WIB, down 0.65 percent on the Jakarta exchange. The immediate stock focus is an October 7 research note from MNC Sekuritas, which rated the shares Hold and set a price target of IDR 1,700.

Target stands above the market price

The MNC target lies 10.4 percent above the IDR 1,540 price. The same research table showed an estimated fiscal 2026 earnings growth rate of 6.86 percent and a fiscal 2026 price to earnings ratio of 10.79 times for Mitra Adiperkasa.

The target is paired with a Hold classification rather than a Buy call. MNC Sekuritas defines Hold as an expected 12-month share performance within plus or minus 10 percent, making the target and rating a measured view of the retailer's near-term valuation.

First-half growth remains the key figure

According to IDXChannel on September 11, 2026, MAPI reported first-half net revenue of IDR 24.2 trillion, up 23.4 percent from IDR 19.6 trillion a year earlier. Net profit rose 27 percent to IDR 1.5 trillion from IDR 960.92 billion, while operating profit increased 23.2 percent to IDR 2.0 trillion.

The same report put first-half EBITDA at IDR 3.8 trillion and gross profit at IDR 9.8 trillion. MAPI also adopted a dividend payout policy of 25 percent to 50 percent of realized earnings, effective September 9, 2026, with capital spending, investment needs and cash flow among the factors considered by management.

Retail scale frames the valuation

MAP describes itself as an Indonesian lifestyle retailer with more than 150 brands across department stores, sports, fashion, children, food and beverage, and digital retail. Its corporate release dated March 30, 2026 reported fiscal 2025 revenue of IDR 43.1 trillion, up 13.9 percent, and net profit of IDR 2.7 trillion, up 26.6 percent, according to MAP Indonesia.

MAP said it operated more than 4,000 stores in over 80 Indonesian cities at the end of December 2025. That retail footprint gives the current valuation a business scale reference, while the 2026 first-half figures show how revenue and earnings developed after the prior year's expansion.

Market value remains the closing reference

MAPI's market capitalization was IDR 25.6 trillion as of October 8, 2026, with 2,240,800 shares traded by the quoted time. The 52-week range was IDR 1,000 to IDR 1,940, placing the last price IDR 400 below the yearly high.