Several brokers have issued research cheering a buy on shares of Thai Eastern Group Holdings Public Company Limited, or TEGH. Trinity Securities maintained its buy recommendation with a 2027 target price of 4.40 baht, based on a PER of 7 times, and kept its 2026 net profit forecast at 560 million baht, up 5% from the previous year. Although third-quarter 2026 profit may slow slightly on seasonal factors in the palm oil business, the rubber business is expected to partly offset this. Yuanta Securities (Thailand) expects third-quarter 2026 normalized profit of about 190 million baht, up 19% from the previous quarter and up 239% from the same period a year earlier, driven by a significant increase in compound rubber orders from India after the Indian government announced an exemption from the previous 20% import tax, leaving current orders above the production capacity available to serve them. It therefore maintained its buy recommendation with a target price of 4.00 baht. Globlex Securities said TEGH still targets 2026 revenue of about 22 billion baht, up 10% from the previous year, and aims for rubber sales volume of 280,000 to 290,000 tons, up 10% to 15% from about 260,000 tons in 2025, recommending a buy on the growth outlook for the rubber, palm oil and energy businesses, as well as the chance to lift margins through EUDR-compliant products. As for the plan to list its subsidiary Thai Eastern Bio Power Company Limited, or TEBP, on the stock exchange and offer IPO shares, it remains under review for suitability under the original plan, which had been expected to proceed in the fourth quarter of 2026. Meanwhile, the Bloomberg Consensus forecasts TEGH's 2026 and 2027 profits at an average of 560 million baht and 688 million baht, up 5% and 23% from the previous year respectively, with an average fair value estimate of 4.00 baht, implying upside of about 23%.
Thai Eastern Group Holdings PCLBrokers maintained buy ratings with target prices of 4.40 and 4.00 baht and raised profit forecasts on the growth outlook.
