Positive Outlook for INDF and ICBP in 2026

Analysts' Optimistic View

The consumer sector stocks of PT Indofood Sukses Makmur Tbk (INDF) and PT Indofood CBP Sukses Makmur Tbk (ICBP) are viewed positively for 2026. According to Muhammad Wafi, Head of Research at Kisi Sekuritas, the outlook is supported by several positive catalysts. The combination of relatively stable raw material prices and declining interest rates is expected to reduce production costs and financial burdens, potentially leading to margin recovery.

Key Growth Drivers

1. Stable Raw Material Prices: Expected to reduce production costs
2. Declining Interest Rates: To lower financial expenses
3. Government Stimulus: Anticipated to boost lower-segment consumer spending
4. Improving Consumer Purchasing Power: Expected to maintain positive sales volume growth

Analyst Insights

Muhammad Wafi of Kisi Sekuritas believes that these factors will contribute to improved financial performance for both INDF and ICBP in 2026. The recovery in consumer spending, particularly in the lower segment, is seen as a critical factor supporting sales volume growth.