Two financial institutions have issued their assessments of the Thai stock market index at the end of 2026. Securities firm Credit Suisse, or CLSA, sees a maximum target of 1,700 points, raised from 1,620 points previously, driven by positive factors including the government's economic stimulus measures supporting domestic consumption and tourism, the national power development plan known as the PDP, attractive dividend yields on cyclical stocks, and investment in data centers. On the UOBAM side, Nattapon Chansivanon, Managing Director of the Investment Division at UOB Asset Management Thailand, or UOBAM, estimates the index at the end of 2026 in a range of 1,650 to 1,750 points, split into three scenarios: a base case with the heaviest weighting at 1,650 points, a best case at 1,750 points, and a worst case at 1,540 points. He also raised the earnings per share estimate, or EPS, to 100 baht from the ten-year average of 90 baht, after listed companies posted six consecutive quarters of profit growth. Supporting factors include the prospect of a stable, decisive majority government following the February 8, 2026 election, which affects Thailand's credit ratings. S&P affirmed its credit rating at BBB+ with a stable outlook on June 18, 2026, while Moody's kept its rating at Baa1 but revised its outlook from negative to stable in April 2026. Both ratings sit in investment-grade territory, helping drive the Thai stock market up more than 350 points, or nearly 30%, since the start of the year.
Moodys CorporationUOBAM's investment division issued its 2026 Thai index forecast of 1,650-1,750 points and raised its EPS estimate to 100 baht, a company-specific analyst/valuation call.
