Yuanta Securities Thailand has downgraded its recommendation on BEC to sell and cut its fair value from 2.34 baht to 1.70 baht, as television advertising revenue remains under pressure from the weak economy and purchasing power, as well as the shift of advertising budgets to digital media. Although the second half of 2026 will see revenue from major events such as the LINGORM Thailand Fan Meeting Tour 2026 and the LINGORM The World Between Us concert, along with income from fan meetings, fan signs and live streaming, these are expected to only partially offset the decline in advertising revenue. The analyst has lowered normalised profit forecasts for 2026 and 2027 by 30 percent and 32 percent to 147 million baht and 170 million baht respectively, while cutting revenue estimates by 20 percent and 18 percent to 3.428 billion baht and 3.638 billion baht.
BEC World Public Company LimitedAnalyst downgrades BEC to sell and cuts target on weak TV ad revenue from economic pressures and shift to digital media.
