MNC Sekuritas downgrades Indofood to Hold with IDR 7,500 target for Indofood stock

Published on 10/15/2026 at 09:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half revenue rose 9.50 percent to IDR 65.5 trillion. Indofood stock costs EUR 0.34 on October 15, 2026, with IDR 60.4 trillion market value.

Earnings quality and key dates

MNC Sekuritas downgraded Indofood to Hold with an IDR 7,500 target on October 5, 2026.
First-half 2026 revenue reached IDR 65.5 trillion, up 9.5 percent year over year.
Indofood stock trades at EUR 0.34 at 9:35 a.m. CEST at Lang & Schwarz on October 15, 2026.
Indofood is scheduled to report third-quarter 2026 results on October 29, 2026.

Indofood, ID1000057003, Illustration mit AI erstellt.

Indofood (ISIN ID1000057003) is trading at EUR 0.34 at Lang & Schwarz on October 15, 2026 at 9:35 a.m. CEST. The latest analyst action came from MNC Sekuritas, which downgraded the stock from Buy to Hold and set a target of IDR 7,500 in a report dated October 5, 2026.

Revenue grows while profit quality weakens

Indofood's first-half 2026 revenue reached IDR 65.5 trillion, an increase of 9.5 percent from IDR 59.8 trillion in the first half of 2025, according to MNC Sekuritas. Operating profit rose 4.7 percent to IDR 11.7 trillion, but net profit fell 19.1 percent to IDR 4.7 trillion as unrealized foreign-exchange losses increased.

The contrast explains the Hold call. Core profit excluding foreign-exchange and non-recurring items grew 6.9 percent to IDR 6.2 trillion in the first half of 2026, while MNC Sekuritas lowered its fiscal-year 2026 net-profit forecast by 11.6 percent to IDR 9.9 trillion. Its report identified rupiah volatility, wheat and edible-oil costs, and limited room for price increases as the main pressure points.

What does the downgrade mean for earnings?

The rating change puts earnings quality ahead of headline sales growth. MNC Sekuritas raised its fiscal-year 2026 revenue forecast to IDR 132.0 trillion, up 6.9 percent year over year, but cut its operating-profit forecast to IDR 23.5 trillion, a 0.6 percent increase. The projected operating margin is 17.8 percent.

Three dated Indofood milestones

On July 31, 2026, Indofood reported first-half sales and revenue of IDR 65.526 trillion, as listed by TradingView. On October 5, 2026, MNC Sekuritas assigned the IDR 7,500 target and Hold rating. On October 15, 2026, the euro quotation stood at EUR 0.34 at Lang & Schwarz.

Next reporting date

Indofood is scheduled to publish its third-quarter 2026 results on October 29, 2026, according to TradingView. That report will show whether sales growth is translating into stronger earnings after the first-half foreign-exchange hit.

Stock valuation and investor context

Indofood's market capitalization was IDR 60.4 trillion as of October 15, 2026, while its Indonesia Stock Exchange range for the preceding 52 weeks was IDR 5,850.00 to IDR 7,600.00. The company operates across consumer branded products, Bogasari, agribusiness and distribution, giving the upcoming results several separate earnings drivers.