Finansia Syrus Securities Public Company Limited, or FSS, stated in an analysis of Central Pattana Public Company Limited, or CPN, that a plan to add approximately 500,000 square meters of net leasable area will increase the company's total leasable area to approximately 2.8 million square meters by 2030 and will support business growth at a high single-digit level. FSS expects CPN's normalized profit to set new records continuously during 2026-2028, driven by leasable area expansion and growth of its core businesses, while a strong financial position will help limit risks from a rising interest rate environment. On valuation, CPN currently trades at a P/E of approximately 15 times. If only the shopping mall business is valued at a P/E of 15 times, that implies a value of approximately 287 billion baht, close to the current market capitalization, reflecting that the market price almost entirely reflects the value of the shopping mall business, while the hotel and residential businesses remain incremental to value. FSS therefore maintains a buy recommendation on CPN with a target price of 80 baht.
Central Pattana Public Company LimitedFinansia Syrus maintains Buy on CPN with 80 baht target, citing record normalized profits and leasable-area expansion.
Finansia X Public Company Limited