KGI Securities has raised its 2027 target price for Kiatnakin Phatra Bank, or KKP, to 145 baht from 125 baht, citing high capital market income and a strong wealth management business that should allow KKP to maintain a high growth rate in the second half of 2026. Lower credit costs should also offset rising operating expenses. The research team lifted its 2027 earnings forecast by a further 5% to reflect fee income growth of 17%, up from 8% previously, and re-rated the PE to 14x from 12.5x, equivalent to a PBV of 1.75x, based on the shift to 2027 forecasts. That represents a premium of about 30% over fair PBV, reflecting the bank's ability to capture opportunities to lift ROE and a dividend yield as high as 7%.
Kiatnakin Phatra Bank Public Company LimitedKGI raised KKP's 2027 target price to 145 baht from 125 baht and lifted its 2027 earnings forecast by 5% on strong wealth management and capital market income.
