JAKARTA – PT Medco Energi Internasional Tbk. (MEDC), a prominent Jakarta-based oil and gas (O&G) issuer, has received a resounding vote of confidence from the securities consensus, earning a coveted “green light” from analysts.
According to Bloomberg data as of Tuesday, March 3, 2026, at 13:00 WIB, an impressive 20 securities, representing every firm reviewing MEDC stock, have collectively issued a “buy” recommendation. The latest consensus target price for MEDC shares stands at Rp2,095 over the next 12 months.
This consensus target suggests a potential upside of approximately 9.1% from the stock’s current market price, indicating strong growth prospects for investors.
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On the Indonesia Stock Exchange (IDX), MEDC’s share price concluded the first session on Tuesday, March 3, 2026, at Rp1,920. The company’s stock has demonstrated robust performance, strengthening by 32.41% since the beginning of 2026.
The escalating geopolitical conflict between the United States, Israel, and Iran, which intensified last weekend, has significantly ignited global oil prices. Bloomberg data revealed a synchronized surge in WTI and Brent crude oil prices on Monday, March 2, 2025.
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Specifically, the WTI crude contract for April 2026 saw a 5.39% increase, reaching US$70.63 per barrel, while the Brent crude contract for May 2026 climbed 6.11% to US$77.32 per barrel.
This surge in oil prices predictably sparked a rally among related energy sector issuers in capital markets, including the Indonesia Stock Exchange. Remarkably, the IDX Sector Energy emerged as the sole sectoral index to strengthen, posting a 1.54% gain, even as the Composite Stock Price Index (IHSG) experienced a downturn on Monday, March 2, 2026.
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As previously reported by Bisnis, Sukarno Alatas, Senior Analyst at Kiwoom Sekuritas Indonesia, commented that current stock prices for oil and gas issuers could potentially enter a new trading range if crude oil prices maintain their high levels.
“However, investors still need to carefully observe profit sensitivity to oil prices, production volumes, cost structures, and domestic energy policies, as oil normalization risks triggering a valuation mean reversion,” Alatas told Bisnis on Monday, March 2, 2026.
Sukarno anticipates that the oil and gas stock rally could persist in the short to medium term, provided that the ongoing conflict escalation continues to keep oil prices elevated. Nevertheless, he characterizes the rally as largely tactical, driven by a risk premium, which implies a significant potential for profit-taking.
For investment recommendations, Sukarno advises investors to concentrate on a momentum trading strategy, emphasizing disciplined risk management. He highlighted oil and gas issuer stocks such as ENRG and MEDC as part of Kiwoom Sekuritas’ recommendations.
“ENRG is an attractive stock to monitor with a ‘trading buy’ recommendation and a target price of Rp2,300, while MEDC has a target price of Rp2,070. Investors should consider entry during strong momentum, utilize trailing stops, and maintain a holding horizon of approximately 1 to 2 months, provided there are no technical reversal signals,” he concluded.
Medco Energi Internasional Tbk. – TradingView
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