Medco Energi Internasional Likely Tactical Oil Proxy in Indonesia -- Market Talk

Dow Jones04-14 11:36

0336 GMT - Medco Energi Internasional is likely a tactical oil proxy in Indonesia in a higher-for-longer oil price environment, Bahana Sekuritas' Abdusshomad Cakra Buana says in a research report. The Indonesian oil and gas company looks well-positioned to capture upside from higher oil prices, with its EBITDA growing 20% in 2026 and sustained roughly 5% CAGR through 2028, the analyst estimates. Under the brokerage's base-case scenario for Brent crude to average around $85 a barrel in 2026, Medco Energi Internasional's average selling prices should increase by 26% this year, helped by factors including higher Corridor Block contribution. The brokerage initiates coverage of the stock with a buy rating and a target price of 2,200 rupiah. Shares are 0.3% lower at 1,645 rupiah. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

April 13, 2026 23:36 ET (03:36 GMT)

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