Reviewing Estika Tata Tiara (BEEF) Stock Recommendation Amid Business Transformation

JAKARTA. The business transformation of PT Estika Tata Tiara Tbk (BEEF) is considered to be yielding positive results. The shift in BEEF’s business line focus to imported frozen beef trading is seen as capable of accelerating performance recovery while opening growth opportunities amid the high demand for animal protein in Indonesia. In research published on 18 June 2026, analyst Yosua Zisokhi of PT Sinarmas Sekuritas (SimInvest) stated that this strategy is one of the main factors supporting BEEF’s future prospects. “BEEF’s performance recovery is increasingly visible, supported by the company’s success in shifting its business focus to imported frozen beef trading,” Yosua wrote in his research on Friday (19/6/2026). This condition is considered to provide an opportunity for BEEF to increase its business volume, especially through the imported frozen beef trading business, which is now the main contributor to the company’s revenue. “In addition, the company has also expanded its cold storage capacity to support operational growth,” said Yosua. Beyond the trading business, Yosua explained that the development of the cattle fattening and dairy segments could become new sources of growth. Both business lines are considered to have higher margin levels, potentially increasing the company’s profitability in the medium term. These prospects are also supported by government policies in the food security sector and the trend of increasing public consumption of animal protein. Nevertheless, Yosua cautioned that global beef price fluctuations, business competition, and changes in government policies regarding imports remain risks that investors need to consider. Based on these projections, Yosua initiated coverage of BEEF shares with a buy recommendation and a target price of Rp 235 per share for the next 12-month period. Assuming the share price is around Rp 158, this target reflects a potential upside of approximately 49%. From a valuation perspective, the target price is equivalent to an estimated price-to-earnings (P/E) ratio of 11.1 times for 2026 and 10 times for 2027. This projection still reflects an attractive valuation amid BEEF’s profit recovery and business expansion prospects. Based on financial performance, Yosua estimates that BEEF’s sales by the end of 2026 could reach Rp 7.74 trillion, up from the 2025 realisation of Rp 6.47 trillion. Meanwhile, net profit is projected at Rp 172 billion in 2026, an increase from the 2025 achievement of Rp 129 billion.