Rare Occurrence! BCA Shares Undervalued, Analysts Predict Price Surge

Jakarta – The share price of PT Bank Central Asia (BBCA) is deemed to be in an undervalued state amid persistently solid financial performance. With BBCA shares currently discounted, analysts view this as an attractive opportunity for investors, aligned with projections of a surge as the market returns to normalcy.

Throughout 2025, this private banking issuer recorded a 4.9% year-on-year (yoy) increase in net profit to Rp57.5 trillion from Rp54.8 trillion. This achievement stems from the company’s strong fundamentals, particularly its sustainably growing financial performance.

In contrast to its financial results, BBCA’s share price has faced significant pressure, mirroring the downturn in the Composite Stock Price Index (IHSG), which has fallen around 15.79% year-to-date (ytd). From the start of the year until early April 2026, BBCA shares have corrected by approximately 19%, with movements confined to around Rp6,500, well below the psychological level of Rp7,000.

Capital market analyst Rendy Yefta described the current state of BBCA shares as a rare anomaly, especially for a large-cap stock. He stated that this uncommon phenomenon serves as a buy signal for investors to accumulate blue-chip shares.

“This is a very rare undervalued phenomenon for a top-tier (super blue-chip) stock. Picking up BBCA at below Rp7,000 is like picking up a Mercedes at an Avanza showroom price,” Rendy explained, quoted from a written statement on Friday, 10 April 2026.

Rendy likened the BBCA share discount to a time bomb of capital gains just waiting for the trigger to explode. Once market panic eases, he said, BBCA’s share price will not creep but sprint rapidly back to normalising its valuation at a Price to Book Value (PBV) level of 4 times.

Historically, the market has placed BBCA shares at a premium valuation with a Price to Book Value (PBV) ratio in the range of 4 to 5 times. Currently, this valuation is under pressure, opening up room for upside when market conditions normalise.

He estimates that the potential for capital gains is substantial for investors entering at current prices. Additionally, investors are urged to pay attention to the release of Q1-2026 performance results, which will soon be published.