Mirae Asset cuts target for Semen Indonesia stock to IDR 2,460
Published on 10/13/2026 at 03:18 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSKey points in brief
- Mirae Asset cut its Semen Indonesia target to IDR 2,460 from IDR 2,750 on September 15, 2026.
- First-half 2026 revenue rose 13.10 percent year over year to IDR 17.65 trillion.
- First-half 2026 attributable profit reached IDR 228 billion, while EBITDA rose 2.60 percent.
- The last Lang & Schwarz quote was EUR 0.08 on October 12, 2026 at 11:00 p.m. CEST.
Semen Indonesia had its target cut to IDR 2,460 from IDR 2,750 by Mirae Asset Sekuritas Indonesia on September 15, 2026, even as first-half results exceeded expectations, according to InvestorTrust. The revised target fell from IDR 2,750 to IDR 2,460 after Mirae lowered its 2026 projected enterprise-value-to-EBITDA multiple from 4.4 times to 3.5 times.
Three dated operating signals
On September 15, 2026, second-quarter revenue reached IDR 9.40 trillion, up 17.70 percent year over year and 12.90 percent quarter over quarter, while attributable profit reached IDR 148.00 billion, up 84.10 percent quarter over quarter, InvestorTrust reported.
On September 25, 2026, first-half sales volume stood at 18.28 million tons, up 5.60 percent year over year. Revenue rose 13.10 percent to IDR 17.65 trillion, attributable profit jumped 471.00 percent to IDR 228.00 billion and EBITDA increased 2.60 percent to IDR 2.15 trillion, according to Bisnis.com.
On October 5, 2026, Mirae Asset technical analysis listed SMGR targets of IDR 1,530, IDR 1,585 and IDR 1,895, with support at IDR 1,435 and IDR 1,380, according to Mirae Asset.
What does the target cut mean for margins?
The earnings picture was mixed. First-half EBITDA margin narrowed by 2.10 percentage points to 11.60 percent as selling, general and administrative costs per ton rose 28.30 percent to IDR 186,000. Transport costs increased 41.90 percent to IDR 980.00 billion, while promotion spending rose 130.00 percent to IDR 220.00 billion, InvestorTrust said.
For valuation, Barron's listed an average price target of IDR 2,146.71 from 7 ratings and a market value of IDR 10.67 trillion on October 9, 2026. The contrast is clear: operating growth improved, while the lower valuation multiple reduced Mirae's target.
Last euro quote was October 12
The last Lang & Schwarz quote stood at EUR 0.08 on October 12, 2026 at 11:00 p.m. CEST. The stock's primary listing is Jakarta, where the October 12, 2026 quote was IDR 1,640, according to the market data record.
The further course of trading is shown by the continuously updated real-time quote of Semen Indonesia stock.
Semen Indonesia stock facts
- Company: PT Semen Indonesia (Persero) Tbk
- ISIN: ID1000106800
- Ticker: SMGR
- Primary exchange: Jakarta Stock Exchange
- Last price Lang & Schwarz (as of October 12, 2026, 11:00 p.m. CEST): EUR 0.08
- Market capitalization: IDR 11.0 trillion (as of October 12, 2026)
- Sector / Industry: Basic Materials / Construction Materials
Market context: Market report IDX Composite.
