UOB maintains Buy with IDR 2,900 target for Japfa Comfeed Indonesia stock

Published on 10/12/2026 at 09:22 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

UOB kept Buy on Japfa Comfeed Indonesia stock at IDR 2,900 on October 6, 2026. First-half 2026 revenue reached IDR 35.36 trillion, up 28.70 percent.

Key points in brief

UOB Kay Hian maintained a Buy rating and set an IDR 2,900 target on October 6, 2026.
Japfa reported first-half 2026 revenue of IDR 35.36 trillion, up 28.70 percent year over year.
The company sold Vaksindo for IDR 1.80 trillion and plans to reinforce its core feed, farming and food businesses.
JPFA was last at IDR 1,985.00 on the Indonesia Stock Exchange on October 12, 2026.

Japfa Comfeed Indonesia, ID1000126907, Illustration mit AI erstellt.

UOB Kay Hian maintained a Buy rating and set an IDR 2,900 target for Japfa Comfeed Indonesia stock on October 6, 2026. The research note linked the view to downstream expansion and an expected improvement in third-quarter profit as poultry prices recovered.

Target follows downstream expansion

According to UOB Kay Hian on October 6, 2026, Japfa was adding plants in Boyolali and Wonoayu and a mega slaughterhouse in Nganjuk by the end of 2026. The note said the target was based on seven times estimated 2026 earnings and described the target as lower while retaining Buy.

The operating backdrop is measurable. KAF Sekuritas reported first-half 2026 sales of IDR 35.36 trillion, up 28.70 percent year over year, while attributed net income reached IDR 2.48 trillion, up 100.20 percent. Second-quarter net income fell 64.00 percent quarter over quarter to IDR 659.00 billion as chicken prices normalized.

Three dated developments

On September 29, 2026, Japfa and its subsidiary transferred 31,000 Vaksindo shares and related brands in a transaction valued at IDR 1.81 trillion. Bisnis.com reported on October 1, 2026, that the affiliate transaction represented 8.47 percent of equity at June 30, 2026.

On October 2, 2026, KAF's snapshot placed the stock's fundamental target at IDR 2,340 and its dividend yield at 6.90 percent. The same report identified lower chicken prices, higher corn costs and poultry disease as material risks to the earnings recovery.

What dates matter for the plan?

The October 6, 2026 UOB update is the latest dated research event, while the end of 2026 is the construction horizon cited for the Boyolali, Wonoayu and Nganjuk projects. The combination gives investors two numbers to track: IDR 2,900 from UOB and IDR 35.36 trillion in first-half revenue.

Stock trades on the IDX

JPFA was last at IDR 1,985.00 on the Indonesia Stock Exchange on October 12, 2026 at 2:11 p.m. WIB. Finance data put Japfa's market capitalization at IDR 23.1 trillion on the same date.