Kasikorn Securities raised its target price for CRC shares to 33 baht from 26.70 baht, while maintaining a buy recommendation, after seeing gross margin expansion supporting faster profit growth in 2026. Management lowered its 2026 revenue growth target to 2 to 3 percent from 4 to 5 percent, but raised its gross profit margin target to an expansion of 60 to 70 basis points, reflecting a strategy focused on profit quality. In the first half of 2026, revenue rose 2.4 percent to 126.6 billion baht, while normalized profit increased 42.5 percent to 4.6 billion baht, accounting for 52 percent of the full-year estimate. Gross profit margin expanded 170 basis points to 25.6 percent. The research team expects second-half gross margin to remain strong at more than 50 to 60 basis points and stay above 25 percent. It also raised 2026 to 2028 profit estimates by 13.5 percent, 7.5 percent, and 8.5 percent to 9.1 billion baht, 9.6 billion baht, and 11.1 billion baht, respectively.
Central Retail Corporation Public Company LimitedKasikorn Securities raised target price and profit estimates, citing margin expansion and faster profit growth.
