Consumer stocks, UNVR, INCP, INDF have been under pressure since the beginning of 2021, according to analysts’ recommendations

ILLUSTRATION. Shares of the consumer sector, UNVR, INCP, INDF have been under pressure since the beginning of 2021, analysts said

Reporter: Akhmad Suryahadi | Editor: I knew Laoli

KONTAN.CO.ID – JAKARTA. The IDX non-cyclical consumer sector index (primary consumer goods) is the sectoral index with the highest decline since the beginning of the year. Quoting data from the Indonesia Stock Exchange (IDX), this index has been corrected by 4.71% year-to-date (ytd).

A number of stocks that inhabit this index also show unsatisfactory price movements. Take for example the shares of PT Unilever Indonesia Tbk (UNVR) which fell 14.89% since the beginning of the year.

Shares of PT Indofood Sukses Makmur Tbk (INDF) and its subsidiary, PT Indofood CBP Sukses Makmur Tbk (ICBP) also weakened since the beginning of the year, respectively 23.42% and 26.24%.

Analyst at Phillip Sekuritas Indonesia, Anugerah Zamzami Nasr, assessed that the primary consumption goods sector index which grew minus compared to other sector indices was probably due to current market interest.

Also Read: Profit margins have the potential to fall, see recommendations for Unilever Indonesia (UNVR) shares

According to him, this sector is a little less attractive when market players are eyeing cyclical sector stocks. “So that the non-cyclical or defensive sector becomes out of favor,” explained Zamzami to Kontan.co.id, Sunday (28/2).

However, they are still particularly attractive in the long term. The current low price is actually attractive for collecting or making installments with long-term goals.

Even in valuation, the shares of UNVR, INDF, and ICBP are still quite cheap. Zamzami said that these stocks have P / E and PBV which are also low at this time, below the five-year average. Thus, UNVR, INDF, and ICBP shares can be bought in installments by taking advantage of the momentum of the correction.

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Reporter: Akhmad Suryahadi
Editor: did you know Laoli

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