Kasikorn Securities has raised its mid-2027 target price for T. Man Pharmaceutical Public Company Limited, or TMAN, to 18.30 baht from 17.80 baht, while maintaining a buy recommendation. The broker forecasts normalized profit for the second quarter of 2026 at 102 million baht, down 4.2 percent from the same period last year and down 10.7 percent from the previous quarter, due to lower overseas sales and a decline in gross margin from a shift in revenue mix toward the distribution business. However, the broker views the profit weakness as temporary and expects a stronger recovery in the second half of 2026, driven by expansion of the distribution business and increased access to hospital channels. Currently, TMAN trades at a 2026 price-to-earnings ratio of 9.1 times, compared to estimated normalized earnings per share growth of 6.7 percent, and offers a dividend yield of 5.5 percent.
T Man Pharmaceutical PCLKasikorn Securities raised target price and maintains buy rating, citing attractive valuation and expected recovery.