UOB Kay Hian keeps IDR 530 target for Sarana Menara Nusantara stock

Published on 10/25/2026 at 02:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

For Sarana Menara Nusantara stock, first-half revenue reached IDR 7.2 trillion, up 4.8 percent year over year. Results are scheduled for October 29, 2026.

Analyst view and reporting date

UOB Kay Hian maintained an IDR 530 target on October 12, 2026.
First-half 2026 revenue reached IDR 7.2 trillion, up 4.8 percent year over year.
The next reporting date is October 29, 2026.

TOWR, ID1000128804, Illustration mit AI erstellt.

Sarana Menara Nusantara (ID1000128804) has an IDR 530 analyst target after UOB Kay Hian maintained its view on October 12, 2026. The call puts the Indonesian tower operator's expanding fiber business alongside selective 5G deployment as the main growth discussion.

Target stays at IDR 530

According to UOB Kay Hian on October 12, 2026, the BUY rating was maintained with an unchanged IDR 530 target, versus a cited current price of IDR 458. Its report highlighted selective 5G densification and potential data-center rollouts, while noting that operators had not provided specific tower rollout guidance.

The research also quantified TOWR's non-tower expansion. In the first half of 2026, connectivity activations rose 48.3 percent year over year to 28,153, while fiber-to-the-home home-paid subscribers increased 77.8 percent to 376,461.

What does the fiber growth mean?

Yahoo Finance published the second-quarter 2026 earnings-call transcript on August 14, 2026. Management said first-half revenue reached IDR 7.2 trillion, up 4.8 percent year over year, while net income increased 12.4 percent. EBITDA reached IDR 5.5 trillion, up 12.7 percent, but the EBITDA margin declined from 83 percent to 77 percent because Bach Multi Global was consolidated.

The chronology shows how the investment case has shifted. On August 14, 2026, management presented 37,000 towers and 182,000 kilometers of fiber in the earnings call. On September 30, 2026, TOWR announced a buyback plan worth up to IDR 500 billion, covering 2 percent of issued capital, as Investor.id reported. On October 12, 2026, UOB Kay Hian kept its IDR 530 target.

Which dates matter next?

Investing.com lists October 29, 2026, as the next earnings date. The buyback period announced by TOWR runs from September 30, 2026, through December 30, 2026, according to Investor.id.

Stock remains below yearly high

TOWR was last quoted at IDR 414 on the Jakarta Stock Exchange on October 23, 2026. The same market snapshot placed its 52-week range at IDR 310 to IDR 650, leaving the quote 36.31 percent below the high. The company's investor-relations page describes a business centered on tower sites leased to wireless communication companies and lists its second-quarter 2026 report.