Pertamina Geothermal Energy, ID1000186505

BRI Danareksa raises target for Pertamina Geothermal Energy stock to IDR 1,300

Published on 10/16/2026 at 10:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half profit reached USD 79.60 million, up 15.48 percent. BRI Danareksa set IDR 1,300 as target for Pertamina Geothermal Energy stock.

Investor signals and operating scale

BRI Danareksa lifted its target from IDR 1,250 to IDR 1,300 on October 12, 2026.
First-half revenue reached USD 235.03 million, up 14.70 percent year on year.
Pertamina Geothermal Energy stock was last at IDR 880.00 on October 16, 2026 at 3:11 p.m. WIB on the IDX.

Pertamina Geothermal Energy, ID1000186505, Illustration mit AI erstellt.

Pertamina Geothermal Energy (ID1000186505) received an IDR 1,300 target from BRI Danareksa Sekuritas, up from IDR 1,250, in a report dated October 12, 2026, according to Kontan. The analyst view puts the target 47.73 percent above the latest IDX price of IDR 880.00 dated October 16, 2026 at 3:11 p.m. WIB.

Three events set the context

On October 5, 2026, first-half revenue reached USD 235.03 million, up 14.70 percent from USD 204.85 million a year earlier, while net profit rose 15.48 percent to USD 79.61 million, reported IDXChannel. On October 7, production had reached 3,222 GWh, up 12.70 percent year on year, against a 2026 target of 5,255 GWh, according to Kontan. On October 12, BRI Danareksa raised its target from IDR 1,250 to IDR 1,300.

What does the target mean?

The target rests on a capacity expansion case. Pertamina Geothermal Energy is projected to increase installed capacity from 727 megawatts in 2026 to 988 megawatts in 2028, while the Ulubelu Binary project is targeted to operate in 2027 and Hululais Units 1 and 2 are planned for 2028, Kontan reported. The counter-factor is the 11.10 percent free float, 3.90 percentage points below the 15.00 percent minimum cited in the same report, with compliance due by March 2027.

Operating progress meets execution risk

Production growth gives the company a measurable base for expansion, but project timing remains important. A separate October 7 analysis said Lumut Balai Units 3 and 4 are targeted for operation in 2030 and 2032, while capacity could reach 1,027 megawatts in 2029 if the project schedule holds.

IDX price and investor view

Pertamina Geothermal Energy stock was last at IDR 880.00 on the IDX on October 16, 2026 at 3:11 p.m. WIB. The target therefore stands 47.73 percent above the quoted price, while the company's 52-week range was IDR 770.00 to IDR 1,365.00 and market capitalization was IDR 36.9 trillion as of October 16, 2026.