iPhone 17 Launch Next Month Seen as Catalyst for Erajaya (ERAA) Stock
Key Takeaways
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JAKARTA, Investortrust.id — PT Erajaya Swasembada Tbk, or ERAA, has been maintained with a buy recommendation at Rp 550 per share, with analysts highlighting the upcoming launch of Apple’s iPhone 17 in the fourth quarter of 2025 as a key driver for the stock. The outlook comes despite continued pressure on consumer purchasing power.
MNC Sekuritas projected that ERAA’s net profit could rise to Rp 1.14 trillion ($69.6 million) in 2025, up from Rp 1.03 trillion a year earlier. Revenue is expected to increase to Rp 72.61 trillion ($4.43 billion), compared with Rp 65.27 trillion in 2024.
Catherine Florencia M, analyst at MNC Sekuritas, said the company’s strategic repositioning toward core information and communications technology (ICT) and lifestyle segments would support sustainable growth. As part of the shift, ERAA divested its pharmacy business Wellings Pharmacy for Rp 25.6 billion, allowing management to focus on higher-margin operations.
At the same time, ERAA expanded its lifestyle portfolio by opening exclusive Under Armour stores in Indonesia, investing Rp 10.5 billion to grow Paris Baguette outlets, and accelerating the roll-out of CHAGEE, a premium tea brand that now operates 11 stores. A recent CHAGEE opening in Gandaria City, Jakarta, featuring NCT Dream’s Chenle in August 2025 drew thousands of visitors, underlining ERAA’s effort to strengthen ties with younger consumers.
In the first half of 2025, ERAA reported an 8.5% increase in net profit to Rp 568.3 billion, equal to 49.7% of its full-year target. Consolidated revenue rose 5.8% to Rp 35.1 trillion, supported by contributions across all business lines. The April 2025 launch of iPhone 16 was a major boost, raising the average selling price per unit by 28.4% year-on-year to Rp 5.7 million.
Looking ahead, analysts cautioned that ERAA still faces risks from weakening consumer demand, volatility in ICT spending, and potential regulatory changes. However, sentiment remains broadly positive, as iPhone sales continue to represent the company’s largest revenue driver, mainly through its flagship iBox and Erafone outlets.
Source: InvestingPro. Data current as of publication.
Valuation Outlook for ERAA
Based on InvestingPro models, PT Erajaya Swasembada Tbk (ERAA) is currently trading at Rp 444 per share, within a 52-week range of Rp 312 to Rp 590. The platform assigns an average fair value estimate of Rp 579.53, implying a potential upside of about 30.5% from the latest closing price. Analyst consensus is broadly aligned, with seven analysts setting an average target price of Rp 584.29, ranging between Rp 520 and Rp 690.
InvestingPro’s valuation spread ranges from Rp 423 to Rp 847, indicating moderate uncertainty but highlighting ERAA’s appeal at current levels. The stock is considered to be trading at a low price-to-earnings multiple relative to its near-term earnings growth, which supports the buy call echoed by brokerage houses. However, investors should also weigh concerns over its significant debt burden and relatively weak gross profit margins, which continue to limit valuation expansion.
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