JCI Is Projected To Reach 7,800 By The End Of 2024
JAKARTA - Mandiri Sekuritas has revised the target for growth in the Composite Stock Price Index (JCI) to 7,800 for the basic scenario, while the bullish scenario will reach the level of 8,000 by the end of 2024.
"This scenario is used with the hope that the United States economy is still soft landing. This is still an opportunity (growth) for stocks, in terms of valuation it is still to push our target index until the end of the year," said Head of Equity Research Mandiri Sekuritas Adrian Joezer quoting Antara.
This projection is different from the previous one set by Mandiri Sekuritas at the level of 7,460 for the basic scenario and 7,640 for the bullish scenario.
Adrian explained, the main reason is the analysis regarding whether future policies will be pro-growth or not. In addition, in terms of potential portfolios and yields (yield) will be more attractive in the midst of lowering US benchmark interest rates.
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It is known, Bank Indonesia (BI) cut the benchmark interest rate by 25 basis points to 6 percent from the previous 6.25 percent. Meanwhile, the US Central Bank (The Fed) also decided to cut its benchmark interest rate by 50 bps to 4.75- 5.00 percent.
"In terms of investors, there is still room to grow for both stock investors, foreign and domestic investors because in terms of stock valuation in the JCI, it is still discounted," he also said.