CGS targets IDR 3,700 for Japfa Comfeed Indonesia stock

Published on 10/13/2026 at 10:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Japfa sold Vaksindo for IDR 1.81 trillion on September 29, 2026. The 8.47 percent deal shapes Japfa Comfeed Indonesia stock through core expansion.

Key points in brief

CGS International assigned Japfa Comfeed Indonesia a target of IDR 3,700 on September 23, 2026.
Japfa sold Vaksindo for IDR 1.81 trillion, equal to 8.47 percent of June 2026 equity.
The company recorded IDR 23.2 trillion in market capitalization and an IDR 1,750.00 to IDR 2,970.00 52-week range on October 13, 2026.
Feed revenue grew 56.30 percent year over year in the second quarter of 2026, while the segment margin fell to 20.50 percent.

Japfa Comfeed Indonesia, ID1000126907, Illustration mit AI erstellt.

CGS International assigned a target of IDR 3,700 to Japfa Comfeed Indonesia stock in coverage reported by Kontan on September 23, 2026. The call followed stronger poultry pricing, but higher soybean meal costs remained a stated risk for margins.

Three dated signals for Japfa

On September 23, 2026, Kontan reported that Japfa's feed revenue rose 56.30 percent year over year to IDR 5.25 trillion in the second quarter of 2026, while the feed margin declined to 20.50 percent from 22.70 percent.

On September 29, 2026, Japfa signed the Vaksindo sale for IDR 1.81 trillion, according to Kontan. On October 6, 2026, the same research coverage cited a CGS International add recommendation and the IDR 3,700 target for Japfa Comfeed Indonesia.

What changes after Vaksindo?

The divestment covered 31,000 shares, or 100.00 percent of Vaksindo's issued and paid-up capital, and represented 8.47 percent of Japfa's consolidated equity as of June 2026. Kontan reported that the proceeds were intended to improve capital allocation and support feed, breeding and chicken-processing activities.

The transaction also changes the earnings base because Vaksindo and subsidiaries in India and Vietnam are excluded from future consolidated revenue, profit and assets. That makes the IDR 3,700 target dependent on core poultry execution rather than on the divested assets.

Second-quarter operating split

Japfa's poultry processing and consumer products revenue increased 31.80 percent year over year to IDR 3.20 trillion in the second quarter of 2026, while day-old chick revenue increased 140.00 percent to IDR 1.70 trillion, according to Kontan. Commercial farming revenue rose 19.80 percent to IDR 6.29 trillion, while aquaculture revenue increased 39.00 percent to IDR 1.62 trillion.

For investors, the mix shows why feed costs and livebird prices matter alongside the divestment proceeds. In the second quarter of 2026, feed remained the largest of the reported operating segments, but its margin moved lower even as revenue expanded.

IDR 23.2 trillion market value

Japfa Comfeed Indonesia had a market capitalization of IDR 23.2 trillion and an IDR 1,750.00 to IDR 2,970.00 52-week range as of October 13, 2026. The range places the company below its yearly high while the latest analyst target remains above the upper end of that range.