JPFA.IJ - In Line but Beat Consensus; Solid 4Q24 Driven by Robust Livebird Segment
JPFA booked a net profit of Rp923bn in 4Q24, bringing FY24 net profit to Rp3.0tr, in line with our estimate but above consensus (110%).
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Equity Strategy: FY26 Outlook: Still a Stock Picker’s Market Amid Gradual Growth Recovery
We set the FY26-end JCI target at 9,440; Our bottom-up total-return screen highlights BBCA, ISAT, JPFA, ASII, KLBF, AADI, NCKL, ICBP as key picks.
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Macro Strategy: 2026: Navigating the Rate and Yield Transition
We expect 2026 INDOGB yields at 5.62%–6.14% (5.9% yr-end baseline), supported by expected rate cuts, stable IDR and foreign ownership.
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Macro Strategy: 2026: Reassessing the Investment Cycle
Manufacturing-led FDI now anchors investment growth, lifting GFCF and widening regional benefit with Ex-Java areas benefiting the most.
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Poultry: Mutant Chickens in Modern Cikande? Investigating the Impact of Cesium-137 Contamination
News revealed CPIN is among the names affected in Cs-137 contamination. JPFA and MAIN have feedmill plants in the same estate.
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