Broker maintains Buy on PLANB with 6.80 baht target, citing COM7 and sports as profit drivers

AnalystIndustry
โดย HoonVision·TH·Read original
Summary · why it matters

Bualuang Securities stated that PLANB's profit momentum is likely to keep improving in the second half of 2026, driven by the Asian Games and the start of equity income recognition from COM7. It expects third-quarter 2026 revenue of 2.7 billion baht, up 15% year-on-year and 3% quarter-on-quarter, and core profit of 300 million baht, up 5% year-on-year and 3% quarter-on-quarter. In the fourth quarter of 2026, the company will get a full quarter of contribution from COM7 of about 30 million baht after interest, while also entering the high season for out-of-home media, giving it a chance to post a new quarterly profit record. Another key driver is the sports business, which is playing a growing role, especially football and boxing, in line with government policy on sports, tourism and soft power. For boxing, the company targets full-year revenue of about 1 billion baht, after already generating 600 million baht in the first half of 2026, and its boxing stadium still has room to add revenue from utilization of only about 50–60% in the second quarter of 2026. For 2027, PLANB is expected to recognize equity income from COM7 of about 500 million baht, less interest of about 200 million baht, supporting core profit growth of about 30% year-on-year. Additional opportunities lie in extending media onto EV7 vehicles and into COM7's network of about 1,400 stores, while PLANB already has experience running in-store media at about 2,000 7-Eleven branches, generating about 400 million baht a year. The broker maintains its Buy rating with a target price of 6.80 baht, based on a 2027 PER of 20x, or minus one standard deviation, seeing fourth-quarter 2026 profit as having a chance to hit a record high and 2027 bringing a clearer new revenue base from Sports, COM7 and Mobility. If the company proves more profit from these partnerships, there is still room for its valuation to return closer to its previous average PER of 30x.

Impact on stocks 3

Communication Services▲ · 1 stocks
Plan B Media PCL
PLANB
▲ PositiveCapitalrelevance

Bualuang maintains Buy with 6.80 baht target, citing COM7 equity income, sports, and out-of-home media as profit drivers.

Consumer Discretionary▲ · 1 stocks
Com7 PCL
COM7
▲ PositiveCapitalrelevance

PLANB will recognize equity income from COM7, with ~30M baht in Q4 2026 and ~500M baht in 2027, making COM7 a key profit driver.

Digital Finance & Tokenization▲ · 1 stocks
© 2026 MarketDXNews