Phintraco keeps IDR 22,000 target for Gudang Garam stock

Published on 10/20/2026 at 21:46 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half profit reached IDR 2.98 trillion, up 2,440.00 percent. Gudang Garam stock costs EUR 0.76 on October 20, 2026 beside IDR 15,625.

Target and earnings picture

Phintraco Sekuritas kept an IDR 22,000 fair-value target on October 18, 2026.
First-half 2026 net income reached IDR 2.98 trillion, up 2,440.00 percent year over year.
Gudang Garam stock costs EUR 0.76 at Lang & Schwarz on October 20, 2026 at 9:40 p.m. CEST.
The next earnings report is scheduled for November 2, 2026.

Gudang Garam, ID1000068604, Illustration mit AI erstellt.

Phintraco Sekuritas kept its IDR 22,000 fair-value target for Gudang Garam on October 18, 2026, according to Investor.id. Against the IDR 15,625 Jakarta quote on October 20, 2026, the target is 40.80 percent above the price. At Lang & Schwarz, Gudang Garam traded at EUR 0.76 on October 20, 2026 at 9:40 p.m. CEST.

Profit recovered in first half

Gudang Garam's first-half 2026 net income reached IDR 2.98 trillion, a 2,440.00 percent increase from the same period a year earlier, Investor.id reported. Operating profit rose 659.60 percent to IDR 3.90 trillion, while gross profit increased 58.00 percent to IDR 5.99 trillion.

The recovery was not broad-based across operating metrics. First-half revenue fell 7.20 percent to IDR 41.17 trillion as cigarette sales volume dropped 13.60 percent to 20.50 billion sticks.

Stock position and valuation

The Jakarta quote stood at IDR 15,625 on October 20, 2026. Its 52-week range was IDR 11,675 to IDR 21,825, placing the quote 28.41 percent below the high and 33.90 percent above the low; market capitalization was IDR 30.1 trillion.

The home-market valuation was 6.81 times earnings, with a 0.08 percent dividend yield. Gudang Garam's next earnings report is scheduled for November 2, 2026, according to TradingView.

Comparison with peers

Gudang Garam: 6.81 times earnings, IDR 30.1 trillion market capitalization.
Hanjaya Mandala Sampoerna (Indonesia Stock Exchange, IDR): 8.38 times earnings, IDR 72.7 trillion market capitalization.
Wismilak Inti Makmur (Indonesia Stock Exchange, IDR): 4.91 times earnings, IDR 2.8 trillion market capitalization.

What comes next for the stock?

The investment case now combines a large profit rebound with lower sales volume and a target that sits 40.80 percent above the Jakarta quote. The November 2, 2026 reporting date is the next scheduled checkpoint for whether earnings recovery can offset the weaker volume trend.