Key Indices
Top Stories
Company Results | Home Product Center (HMPRO TB/BUY/Bt6.40/Target: Bt8.00)
- HMPRO reported 3Q26 net profit of Bt1.32b (+1% yoy,-17% qoq), in line with our and consensus estimates. October SSSG remained promising, with HomePro’s at +6.5% yoy and Mega Home’s at +11.5% yoy, driven by post-flood demand for home repairs. With annual store expansion slowing to around five stores, earnings growth will be driven primarily by gross margin improvement. Maintain BUY with a target price of Bt8.00. The stock offers an attractive valuation, with a 5.8% dividend yield and 14x PE.
Company Update | Advance Info Services (ADVANC TB/BUY/Bt340.00/Target: Bt415.00)
- ADVANC reported a 3Q26 net profit of Bt13.5b (+12% yoy, -2% qoq), slightly above our and Bloomberg consensus by 1.2% and 2.8%. Strong handset sales drove the 3Q26 beat, offsetting softer core service revenue. The tone at the meeting was positive. Core service sales growth is expected to meet the upper bound of its 2026 guidance, while EBITDA growth is likely to beat guidance. Maintain BUY with a target price of Bt415.00.
Top Stories
Company Results | Home Product Center (HMPRO TB/BUY/Bt6.40/Target: Bt8.00)
- HMPRO reported 3Q26 net profit of Bt1.32b (+1% yoy,-17% qoq), in line with our and consensus estimates. October SSSG remained promising, with HomePro’s at +6.5% yoy and Mega Home’s at +11.5% yoy, driven by post-flood demand for home repairs. With annual store expansion slowing to around five stores, earnings growth will be driven primarily by gross margin improvement. Maintain BUY with a target price of Bt8.00. The stock offers an attractive valuation, with a 5.8% dividend yield and 14x PE.
Company Update | Advance Info Services (ADVANC TB/BUY/Bt340.00/Target: Bt415.00)
- ADVANC reported a 3Q26 net profit of Bt13.5b (+12% yoy, -2% qoq), slightly above our and Bloomberg consensus by 1.2% and 2.8%. Strong handset sales drove the 3Q26 beat, offsetting softer core service revenue. The tone at the meeting was positive. Core service sales growth is expected to meet the upper bound of its 2026 guidance, while EBITDA growth is likely to beat guidance. Maintain BUY with a target price of Bt415.00.
Key Indices
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