Macquarie keeps SGD 2.40 target for Bumitama stock

Bumitama Agri (ISIN SG2E67980267) has a SGD 2.40 price target from Macquarie, while the company reported 44 percent growth in attributable profit for the first half of 2026. The two figures point to a stock story built on earnings delivery and analyst support rather than on a fresh corporate transaction.

Macquarie target stays at SGD 2.40

According to Investing.com on September 2, 2026, Macquarie maintained a Buy rating and a SGD 2.40 12-month target. The same table records an earlier SGD 1.60 target from June 3, 2026, making the later target SGD 0.80 higher, or 50.00 percent above the earlier level.

The target also sits above Bumitama's October 1 SGX price of SGD 1.98. That comparison leaves SGD 0.42 of nominal headroom, although the target and the market price are separate figures in the same Singapore dollar quotation.

First-half profit climbs 44 percent

MarketScreener lists an August 14, 2026 announcement saying Bumitama's attributable profit climbed 44 percent in the six months ended June 30, 2026. The same announcement included an interim dividend, adding a shareholder-return element to the earnings update.

Bumitama's investor-relations page reports that fiscal-year 2025 revenue reached IDR 19.95 trillion and net profit rose 23 percent to IDR 3.37 trillion. It also says the group raised its targeted payout range to 60 percent to 75 percent of distributable income in April 2026, which gives the first-half result a clear capital-return context.

SGX price and Lang & Schwarz close

On the Singapore Exchange, Bumitama was priced at SGD 1.98 on October 1, 2026, versus a 52-week high of SGD 2.50 and low of SGD 1.10. At Lang & Schwarz, the prior close was EUR 1.38 on September 30, 2026. The SGX quotation and the euro prior close are separate venue references, so neither daily percentage nor currency conversion is applied between them.

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