BRI Danareksa keeps IDR 3,500 target for Telkom Indonesia stock

Published on 10/26/2026 at 09:38 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Telkom Indonesia plans an IDR 4.0 trillion buyback through June 8, 2027. Telkom Indonesia stock had first-half revenue of IDR 75.90 trillion, up 3.90 percent.

Capital allocation meets operating growth

On October 20, 2026, Telkom had more than IDR 3.0 trillion left in its approved buyback allocation.
First-half 2026 revenue rose 3.90 percent to IDR 75.90 trillion.
Quanteia lists October 29, 2026 as the next earnings date.

TLK, US7156841063, Illustration mit AI erstellt.

BRI Danareksa Sekuritas maintained a target of IDR 3,500 for Telkom Indonesia stock in research dated October 22, 2026, as the company expands its data-center and international connectivity businesses. Kontan reported that the plan includes NeutraDC capacity of 118 megawatts in Batam and a long-term expansion of Telin.

Buyback plan sets the tone

Telkom Indonesia said on October 20, 2026, that it was preparing to accelerate an approved buyback worth up to IDR 4.0 trillion. More than IDR 3.0 trillion remained in the allocation as of October 19, 2026, and the program runs through June 8, 2027.

The chronology shows a broader capital-allocation shift. On June 8, 2026, shareholders approved the IDR 4.0 trillion buyback. On September 30, 2026, Telkom moved more than 90 percent of its network infrastructure assets into InfraNexia during its extraordinary shareholder process, according to Kompas. On October 20, 2026, the company disclosed the remaining buyback allocation.

What supports the target?

Telkom reported first-half 2026 revenue of IDR 75.90 trillion, up 3.90 percent from the same period in 2025. EBITDA increased 3.80 percent to IDR 37.50 trillion, producing a 49.40 percent margin, while net profit rose 1.40 percent to IDR 10.60 trillion, Kompas reported. The comparison matters because the buyback is being paired with investment in data centers and connectivity rather than presented as a standalone return of capital.

BRI Danareksa identified NeutraDC Batam as a potential growth driver, with 6 megawatts targeted for operation in the fourth quarter of 2026 and a 100-megawatt expansion targeted for 2028. The same report highlighted the risk that insufficient 5G investment could weaken Telkom's competitive position.

Dates frame the next catalyst

Quanteia lists October 29, 2026 as the next earnings date. The next confirmed corporate-program date is June 8, 2027, when the approved buyback period is scheduled to end.

The company had a market capitalization of USD 12.0 billion as of October 23, 2026, while its NYSE-listed ADR closed at USD 12.13 that day, according to market data summarized by Onvista.

The further course of trading is shown by the continuously updated real-time quote of Telkom Indonesia stock.