Key Indices
Top Stories
Company Update | Central Pattana (CPN TB/BUY/Bt61.75/Target: Bt80.00)
- We visited Central Khonkaen Campus and came back with a slightly positive view on the project. 3Q26 earnings outlook remains promising, as we expect core earnings to increase by 10-15% yoy, driven mainly by the strong rental business. We remain confident in our 2026 earnings forecast of +15% yoy growth despite the impact from Bangkok’s flooding situation. Maintain BUY with a target price of Bt80.00, based on SOTP methodology.
Company Update | Thai Union Group (TU TB/BUY/Bt12.40/Target: Bt14.50)
- We expect TU to report a 3Q26 core profit of Bt1.37b (+13.4% yoy, flat qoq), with core operations remaining resilient despite higher costs. We forecast TU’s operations to improve in 2027F, on better operating margins following price adjustments, easing cost pressures, and Thai baht depreciation. Upgrade to BUY with a higher target price of Bt14.50.
Top Stories
Company Update | Central Pattana (CPN TB/BUY/Bt61.75/Target: Bt80.00)
- We visited Central Khonkaen Campus and came back with a slightly positive view on the project. 3Q26 earnings outlook remains promising, as we expect core earnings to increase by 10-15% yoy, driven mainly by the strong rental business. We remain confident in our 2026 earnings forecast of +15% yoy growth despite the impact from Bangkok’s flooding situation. Maintain BUY with a target price of Bt80.00, based on SOTP methodology.
Company Update | Thai Union Group (TU TB/BUY/Bt12.40/Target: Bt14.50)
- We expect TU to report a 3Q26 core profit of Bt1.37b (+13.4% yoy, flat qoq), with core operations remaining resilient despite higher costs. We forecast TU’s operations to improve in 2027F, on better operating margins following price adjustments, easing cost pressures, and Thai baht depreciation. Upgrade to BUY with a higher target price of Bt14.50.
Key Indices
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