In the newest sectoral index classification, Technology is one of the newly launched indexes. Since the beginning of 2021, the sector has experienced a quite significant rise of 65.31% until the closing (26/1). This is due to the aggressive price increase of third-tier stocks such as PT DCI Indonesia Tbk (DCII), PT Indosterling Technomedia Tbk (TECH) and PT Kioson Komersial Indonesia Tbk (KIOS). However, in valuation, the price of stocks in this sector is already quite high.
As for the analyst recommendation on this sector is trading buy for DMMX with target price set at IDR 270. For a long-term investment, MTDL is quite appealing with target price of IDR 1,870.