Prospects for INCO, INKP, CUAN, and INDY Remain Attractive, Check Stock Recommendations
The prospects for commodity and mining-based issuers are still considered attractive, even though global commodity price fluctuations and macroeconomic uncertainty continue to overshadow the market. A number of analysts assess that these issuers have solid fundamentals, supported by business expansion plans, operational efficiency, and the potential for solid performance growth going forward. Here are stock recommendations for the commodity and energy sector from several analysts for trading on Monday (10/8/2026):
- PT Vale Indonesia Tbk (INCO)
OCBC Sekuritas analyst Devi Harjoto recommends a buy for INCO shares with a target price of Rp 7,500 per share. The company’s performance has the potential to accelerate in the second half of 2026 following the completion of repairs to Furnace 3 last June, which will boost finished nickel production to 68 thousand tonnes this year. In addition, INCO has shown resilience in terms of fuel cost management and the potential for an increase in the RKAB quota from the government. The strategic HPAL project in Pomalaa, which has reached 65% progress, is also scheduled to begin operations in the third quarter of 2026 and serve as a long-term growth catalyst.
- PT Indah Kiat Pulp and Paper Tbk (INKP)
Bahana Sekuritas analyst Arvin Lienardi recommends a buy for INKP shares with a target price of Rp 10,600 per share. The company’s main catalyst comes from the operation of a new factory in Karawang with a total capacity of 2.4 million tonnes of industrial paper, which is projected to contribute revenue of up to US$ 594 million in 2026. The operation of this facility is expected to drive the company’s core profit growth by 55% year-on-year in 2026. On the other hand, the price trend for hardwood pulp (BHK) is expected to remain strong above US$ 600 per tonne until the end of the year due to limited global supply. The end of the major capital expenditure cycle also opens opportunities for INKP to deleverage and return free cash flow to a positive position.
- PT Petrindo Jaya Kreasi Tbk (CUAN)
Mirae Asset Sekuritas Senior Market Analyst Nafan Aji Gusta recommends adding CUAN shares with a target price of Rp 935 per share. The company’s performance received a positive boost from an increase in coal and mineral sales volumes and the expansion of an increasingly solid mining asset portfolio. Synergy within the business group is also considered to have successfully increased the business scale, triggering a significant surge in revenue and net profit.
- PT Indika Energy Tbk (INDY)
Mandiri Sekuritas analyst Ariyanto Kurniawan recommends a buy for INDY shares with a target price of Rp 4,750 per share. The company is enjoying a significant improvement in profitability thanks to a business transformation towards a more diversified portfolio outside the coal sector. The diversification steps into the gold and mineral mining business, as well as operational efficiency, have proven to be new growth engines that support the company’s profit surge. With an increasingly diverse revenue contribution, INDY’s dependence on the coal price cycle is reduced, thereby dampening the volatility of financial performance in the long term.