Telkom Indonesia stock gains 1.05 percent after target cut

Published on 10/04/2026 at 23:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Telkom Indonesia stock gained 1.05 percent to USD 12.55 on October 2, 2026, while UOB Kay Hian cut its target. First-half revenue rose 3.9 percent.

TLK, US7156841063, Illustration mit AI erstellt.

Telkom Indonesia stock (ISIN US7156841063) gained 1.05 percent to USD 12.55 on the NYSE on October 2, 2026, with volume of 1,068,410 shares. The move came as TradingView reported that UOB Kay Hian maintained its Buy rating while cutting its target for Telkom Indonesia ordinary shares to IDR 3,300 from IDR 3,600 on October 2, 2026.

UOB cuts target amid execution risks

The lower target reflects near-term execution concerns linked to management changes, restructuring costs and the timetable for Telkom InfraCo's fiber-business reorganization. In its September 30, 2026 report, UOB Kay Hian said the IDR 3,300 target was based on 5.1 times 2026F EV/EBITDA, compared with the previous IDR 3,600 target.

The same report identified Phase 2 of the Telkom InfraCo transaction as a potential value-unlocking catalyst and said a strategic stake sale could follow. UOB Kay Hian also cited higher spectrum and network capital spending as a risk to dividend growth and free cash flow before asset monetization proceeds arrive.

First-half revenue rises 3.9 percent

Telkom's first-half 2026 revenue reached IDR 75.9 trillion, up 3.9 percent from the same period a year earlier, while EBITDA rose 3.8 percent to IDR 37.5 trillion. Net income increased 1.4 percent to IDR 10.6 trillion, and normalized net income grew 6.2 percent to IDR 11.3 trillion, according to Telkom Indonesia in its September 7, 2026 release.

The company retained its 2026 guidance for normalized revenue growth of 1%-3% and an EBITDA margin above 50%. The latest first-half EBITDA margin was 49.4%, leaving efficiency gains and mobile-data monetization central to the path toward that target.

Consensus stays above the market

Investing.com reported a Strong Buy consensus from 23 analysts on October 4, 2026, based on the Jakarta-listed ordinary shares. The average target was IDR 3,411, with a high estimate of IDR 4,150 and a low estimate of IDR 2,300; the ordinary-share figures are quoted in IDR and are separate from the NYSE ADR price in USD.

Telkom Indonesia stock stays below its yearly high

Telkom Indonesia stock was last at USD 12.55 on the NYSE on October 2, 2026 at 4:00 p.m. ET, up from a prior close of USD 12.42. Its 52-week range was USD 12.38 to USD 23.52, while market capitalization stood at USD 12.4 billion.