Japfa Comfeed's Profit Outlook Improves on Rising Live Chicken Prices

Positive Analyst Recommendation Maintained

PT Japfa Comfeed Indonesia Tbk (JPFA) remains an attractive investment opportunity according to Maybank Sekuritas Indonesia analyst Paulina Margaret, who maintained a buy recommendation for the stock. The analyst raised the target price to Rp 3,200, representing a 15% increase from previous projections. This revision is based on an assumed price-to-earnings ratio (PER) of 8.2 times for 2026, which is +0.2 standard deviations from the three-year average.

Market Drivers for Positive Outlook

The positive outlook for JPFA is primarily driven by two key factors: stronger live chicken prices and additional demand from government programs. The reduction in Grand Parent Stock (GPS) quota for 2024 has contributed to higher live chicken prices, while the implementation of the Makan Bergizi Gratis (MBG) program has created additional demand for chicken products.

Stock Performance and Market Reaction

As of Monday, December 22, 2025, JPFA shares were trading at Rp 2,650 per share, representing a 1.85% decline. Despite the daily drop, the stock's prospects remain favorable given the positive fundamental outlook. The company's financial performance is expected to benefit from the current market conditions, potentially driving the stock price towards the analyst's target.