Brokers say SYNEX Q2 2026 profit strong, set highest target at THB 12.60

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Summary · why it matters

Leading securities firms have raised their positive outlook on SYNEX after second-quarter 2026 net profit came in better than expected. Bualuang Securities gave the highest target price of THB 12.60 with a buy recommendation, as did Finansia Syrus Securities at THB 12.50, while KGI Securities and TISCO Securities set targets at THB 11.00. Krungsri Securities maintained a hold rating at THB 10.20. Net profit for the quarter was THB 223 million, up 17 percent from a year earlier, with normalised profit at approximately THB 197 to 234 million, growing 19 to 20 percent year-on-year. This was supported by strong growth in other revenue segments, offsetting an 11 to 13 percent decline in Apple product sales due to supply issues. Gross margin improved to 3.96 to 4.00 percent, and share of profit from NCAP rose 33 percent to THB 50 million. Finance costs dropped significantly by 38.6 percent to THB 25 million. The company also announced an interim dividend of THB 0.10 per share and expects normalised profit for 2026 to grow 8 to 12 percent from the previous year. However, risks remain from inventory rising 22 percent quarter-on-quarter to THB 5.75 billion and overdue receivables beyond 12 months increasing by THB 25 million to THB 489 million.

Synnex (Thailand) Public Company Limited ▲