CGSI has raised its target price for CPN shares to 76 baht and maintained a buy recommendation, after lifting its normalised earnings per share estimates by 3.1 to 3.2 percent for 2026 to 2028. The revision reflects assumptions of a higher gross margin in the rental business, stronger hotel and property revenue, and a larger share of profit from CPNREIT. Normalised earnings per share in 2026 are expected to grow 14.7 percent, supported by rental revenue growth of 7.2 percent and a rental gross margin rising to 61 percent. Hotel and property revenue is projected at 6.4 billion baht, up 1.2 percent, helped by the opening of three more Go! Hotel locations and the Phyll Nakhon Pathom condominium in the second half of 2026, as well as the transfer of a condominium backlog from three projects worth 1.2 billion baht in the fourth quarter of 2026.
Central Pattana Public Company LimitedCGSI raises target price to 76 baht and maintains buy, lifting EPS estimates on higher rental margins and revenue.
