Business Transformation Begins to Bear Fruit, Analysts Recommend Buying BEEF Shares

Illustration. (Photo: Dok. Antara)

JAKARTA - PT Estika Tata Tiara Tbk (BEEF) prospects are considered increasingly promising in line with the company's success in transforming its business into the import frozen meat trade.

This change in strategy is considered capable of accelerating the recovery of the company's performance while opening up greater growth opportunities amid the increasing national demand for animal protein.

In a research published on June 18, 2026, PT Sinarmas Sekuritas (SimInvest) analyst Yosua Zisokhi, said that the frozen imported meat trading segment is now the main contributor to BEEF's revenue.

He added that the prospects for this business are supported by the opportunity to increase import volumes as well as the company's steps to expand the capacity of cold storage facilities.

"The recovery of BEEF's performance is increasingly visible, supported by the company's success in shifting its business focus to the import frozen meat trade," Yosua wrote in his research.

Based on SimInvest's research, per capita consumption of beef in Indonesia has grown an average of 1.77 percent per year over the period 2021-2025 and reached around 2.7 kilograms per capita in 2025.

However, the domestic market still faces a deficit in the supply of beef and buffalo meat, which is estimated to reach around 250,000 tons per year until 2030.

This condition shows that the demand for meat in Indonesia still has strong growth prospects, driven by an increase in the number of residents and public awareness of animal protein consumption.

Meanwhile, the domestic production capacity is considered not yet able to fully meet market demand so that dependence on imports is expected to remain high in the next few years.

This situation opens up opportunities for companies that have strong distribution networks and logistics infrastructure, namely in this case, BEEF is considered to be in a strategic position to take advantage of these opportunities through the strengthening of the frozen meat trading business and the development of various supporting facilities.

In addition, the company also continues to diversify its business through the development of cattle fattening and dairy businesses.

According to Yosua, these two segments have the potential to become new growth engines as well as increase the company's profitability because they offer higher margins compared to the frozen meat trading business.

He added that the government's food security program and the trend of increasing consumption of animal protein are long-term supporting factors for BEEF growth.

According to him, the development of the dairy cattle business is also considered to have the potential to contribute positively to the company's performance if it can be realized according to plan.

However, he reminded investors to continue to pay attention to a number of risks, such as fluctuations in global meat prices, increased industry competition, and the potential for changes in government policies related to imports.

Overall, he assessed that the business transformation carried out by BEEF has begun to show positive results, this is supported by the growth of business volume, business diversification, and profit structure improvement, the company is considered to have the opportunity to strengthen its position amid the increasing demand for animal protein in Indonesia.

In line with this outlook, SimInvest started coverage of BEEF shares with a Buy recommendation and a target price of IDR 235 per share in the next 12 months.

With the share price in the range of IDR 158, the target reflects a potential increase of around 49 percent, and the valuation is equivalent to an estimated price-to-earnings (P/E) ratio of 11.1 times for 2026 and 10 times for 2027.