JP Morgan Upgrades Indonesian Nickel Stocks

JP Morgan upgrades Indonesian nickel stocks, boosting PT Vale Indonesia, PT Merdeka Copper Gold, and PT Aneka Tambang amid rising nickel prices and regulatory support.

(Bisnis.Com) 01/01/70 07:00 106671

Bisnis.com, JAKARTA — JP Morgan upgraded its outlook on Indonesian nickel miners amid developments related to permit issuance earlier this year and a sustained rise in prices of downstream nickel products throughout 2025.

In its latest research note titled Asean Metals, the Wall Street bank raised its ratings on PT Vale Indonesia Tbk. (INCO) and PT Merdeka Copper Gold Tbk. (MDKA) to overweight (OW) from neutral.

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