CGS International downgrades Bank Jago and cuts EPS forecasts and target price

5 articles · Updated · The Wall Street Journal · Apr 27

CGS International lowers Bank Jago’s 2026 and 2027 EPS forecasts by 3.5% and 9.5%, downgrades the stock to hold, and reduces the target price to IDR1,400.00 from IDR2,200.00.
The downgrade reflects concerns over higher credit costs, especially after Indonesia’s Lebaran holiday, and a cautious stance by Bank Jago’s management prioritizing liquidity and prudent risk management amid macroeconomic uncertainty.
Bank Jago shares fell 0.4% to IDR1,295.00 following the report. The bank will closely monitor credit costs, which tend to spike seasonally, as it navigates ongoing economic challenges in Indonesia.

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