Kiwoom cuts target to IDR 2,900 for Hartadinata Abadi stock
Published on 10/14/2026 at 10:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSKiwoom target revised downward
- Kiwoom revised its 12-month Hartadinata Abadi target from IDR 3,810.00 to IDR 2,900.00 on October 12, 2026.
- Next quarterly earnings are scheduled for October 29, 2026.
- Hartadinata Abadi stock was IDR 2,030.00 on October 14, 2026, up 1.00 percent from IDR 2,010.00.
- Revenue rose 125.00 percent to IDR 33.8 trillion in the first half of 2026.
Hartadinata Abadi (ID1000139405) is listed on the Jakarta Stock Exchange under ticker HRTA, and Kiwoom cut its 12-month target from IDR 3,810.00 to IDR 2,900.00 on October 12, 2026 while maintaining a Buy recommendation. Against the October 14 price of IDR 2,030.00, the revised target stands 42.86 percent higher.
Revenue reaches IDR 33.8 trillion
Kontan reported that Hartadinata Abadi revenue rose 125.00 percent year over year to IDR 33.8 trillion in the first half of 2026. Wholesale revenue reached IDR 11.9 trillion in the second quarter of 2026, up 82.50 percent year over year, while retail revenue fell 2.10 percent to IDR 1.6 trillion.
The mix matters for the target revision. Kontan reported that bullion banking accounted for about 80 percent of wholesale revenue, while wholesale represented about 89 percent of total revenue in the first half of 2026. The same report identified normalized gold prices and concentration among major partners as risks to the growth profile.
Stock stays below its yearly high
HRTA traded at IDR 2,030.00 on the Jakarta Stock Exchange on October 14, 2026 at 3:40 p.m. WIB, up 1.00 percent from the prior close of IDR 2,010.00. The 52-week range was IDR 1,140.00 to IDR 3,440.00, placing the latest price 40.99 percent below the high.
The market capitalization was IDR 9.3 trillion on October 14, 2026, while the price-to-earnings ratio was 7.06. Trading volume reached 10,908,900 shares against an average volume of 11,917,531 shares.
Results date arrives October 29
Investing.com lists October 29, 2026 as Hartadinata Abadi's next earnings date. The portal also identifies HRTA as a Jakarta Stock Exchange listing with IDR as its trading currency and confirms the ID1000139405 identification.
Kiwoom's October 12 report said the target revision reflected a valuation using equal weights for price-to-earnings and discounted cash flow methods. It also cited gold-price fluctuations, weaker domestic purchasing power and delayed LBMA certification as downside risks.
Target cut meets stronger operating growth
The stock report presents a clear tension: Kiwoom lowered its target, yet first-half revenue expanded 125.00 percent and wholesale revenue grew 82.50 percent in the second quarter. For investors, the next results date will show whether the rapid revenue expansion is translating into sustainable profitability as the business mix shifts toward bullion banking.
Hartadinata Abadi was last at IDR 2,030.00 on the Jakarta Stock Exchange on October 14, 2026 at 3:40 p.m. WIB, up 1.00 percent from IDR 2,010.00. The further course of trading is shown by the continuously updated Hartadinata Abadi stock news.
Hartadinata Abadi market data
- Company: PT Hartadinata Abadi Tbk
- ISIN: ID1000139405
- Ticker: HRTA
- Primary exchange: Jakarta Stock Exchange
- Price Jakarta Stock Exchange (as of October 14, 2026, 3:40 p.m. WIB): IDR 2,030.00
- Change versus prior close: plus 1.00 percent
- Prior close Jakarta Stock Exchange (October 13, 2026): IDR 2,010.00
- Market capitalization: IDR 9.3 trillion (as of October 14, 2026)
- 52-week range: IDR 1,140.00-3,440.00 (as of October 14, 2026)
- Sector / Industry: Consumer Cyclical / Luxury Goods
- Index membership: S&P Global BMI
- Next earnings date: October 29, 2026
Market context: Market report IDX Composite.
