Land and Houses recommends buying CPAXT on weakness with a 17.00 baht target, awaiting a recovery in Q4 2026

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โดย ทันหุ้น·TH·Read original
Summary · why it matters

Land and Houses Securities recommends "buy on weakness" for CP Axtra Public Company Limited, or CPAXT, with a target price of 17.00 baht, expecting net profit to begin recovering from the fourth quarter of 2026 onward and to grow strongly in 2027. Land and Houses assesses that third-quarter 2026 earnings will weaken both year on year and quarter on quarter, pressured by the low season during the rainy months, energy price pressure, and the recognition of a further 200 million baht loss from the Happitat project this quarter. Total sales are still expected to grow 1-2% year on year, driven by store expansion and omni-channel operations, even though overall purchasing power remains weak due to the "Thai Chuay Thai Plus" program and energy prices, with same-store sales growth still negative overall. Meanwhile, the acquisition of The Food Purveyor in Malaysia, valued at about 13.1 billion baht, will help drive retail revenue growth of 4% and lift overall margins, beginning to contribute 1-2% to net profit from 2027.

Impact on stocks 2

Consumer Staples▲ · 1 stocks
Real Estate▲ · 1 stocks

Off-coverage companies 1

The Food PurveyorPrivate▲ Positive
Capitalrelevance

CPAXT's acquisition of The Food Purveyor for about 13.1 billion baht will drive retail revenue growth and margin improvement from 2027.

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