STOCK RECOMMENDATION: Triputra Agro TAPG Distributes Dividends of IDR 1.8 Trillion

However, according to Kiswoyo, the negative sentiment for the CPO industry this year is if the price of soybean and corn oil is lower than the price of CPO. If alternative vegetable oils are cheaper, the demand for CPO may decrease.

"Especially, the majority of countries that use CPO still come from the Asian region, especially India and China," he told Kontan on Thursday (2/5).

Kiswoyo recommends buying TAPG with a target price of IDR 750 - IDR 800 per share.

Investment Consultant at Reliance Securities Indonesia, Reza Priyambada, sees that the sales performance of CPO issuers depends more on the reference price of contracts with customers. As a result, TAPG just needs to maintain their market share and CPO sales volume if they want to maintain good performance this year.

"Looking at the current fluctuations, the price of CPO is likely to move in the range of MYR 750 - MYR 800 per ton," he told Kontan on Thursday (2/5).

Reza recommends buying TAPG with a target price of IDR 725 per share.