Dao Securities (Thailand) Public Company Limited has downgraded its recommendation on ONEE to 'Sell' from 'Hold' and cut its target price to 2.40 baht from 3 baht, based on a P/E of 16 times. This is due to expectations that second-half 2026 profit will slow from the same period last year, following a decline in the gross margin of the content marketing business from higher production costs. Meanwhile, the broker has cut its net profit forecasts for 2026-2027 by 42% and 29%, respectively, expecting 2026 net profit of 259 million baht, down 42%, and 2027 net profit of 351 million baht, up 35%. It views the share price as lacking short-term catalysts from TV advertising spending, which remains on a downward trend.
The ONE Enterprise Public Company LimitedBroker downgrades to Sell, cuts target price and profit forecasts due to margin decline and weak TV ad spending.
