Indah Kiat Pulp & Paper is likely to benefit from tailwinds, Bahana Sekuritas' Arvin Lienardi says in a research report. Its pulp-price environment looks favorable with hardwood pulp prices currently above $600 per ton and July futures having reached $650 a ton, signaling continued firmness, the analyst says. Second, the Indonesian company's 2.4-million-ton industrial paper mill in Indonesia's Karawang finally came online in 1H, and is expected to help boost core profit growth by 55% in 2026 and 20% in 2027. The brokerage initiates coverage of the stock with a buy rating and a target price of 10,600.00 rupiah. Shares are 0.3% higher at 7,900.00 rupiah. (ronnie.harui@wsj.com)