Quanta Services sees multi-decade demand, targets doubling earnings by 2030

Kijcharoen Engineering Electric Public Company Limited, or KJL, is pressing ahead with business expansion to capture opportunities in the Data Center and Solar Rooftop markets. Chief Executive Officer Kasemsan Sujiwarodom told the Stock Vision news team that the company has raised production capacity from approximately 33 million units to 40 million units in 2026, while the current capacity utilisation rate stands at around 70-80%, leaving room to handle expected increases in orders without the need for major immediate investment. The company is developing new products for the Data Center market, including server rack cabinets, cable trays, cable ladders, cable management systems, and electrical distribution and control panels, or switchboards, which will be rolled out gradually with revenue recognition beginning from 2027 onward. On the marketing front, KJL is expanding its KJL Network, aiming to grow its network of electrical engineers, electricians, and designers from approximately 15,000 people at present to 30,000 people within this year. As for the operating outlook, the company is confident that 2026 will meet its growth target, with revenue projected to grow by around 10-15% compared with the previous year, after business began to improve gradually from the second quarter of 2026, and it expects continued growth in the second half of the year.

General Electric's GE Vernova unit has resolved its legal dispute with Vineyard Wind, while GE Aerospace has addressed a GE9X engine durability issue and announced an US$11.75 billion acquisition of Consolidated Precision Products to bolster precision-cast engine component supplies. The Vineyard Wind settlement trims legal overhang at GE Vernova, and the planned US$11.75 billion CPP acquisition directly targets one of GE Aerospace's largest current vulnerabilities, precision component availability, by bringing more casting capacity in house to support engine production schedules and protect margins around key catalysts such as the GE9X and GEnx ramp. General Electric's narrative projects $63.2 billion revenue and $11.7 billion earnings by 2029, requiring 7.7% yearly revenue growth and about a $2.7 billion earnings increase from $9.0 billion today, and the narrative yields a $404.90 fair value, a 29% upside to its current price. Some of the lowest ranked analysts assume revenue of about US$60.8 billion and earnings of roughly US$10.8 billion by 2029 while applying a lower price target. Investors still need to weigh the unresolved execution risk around GE9X and broader supply chain pressures.

Kasikorn Securities, or KS, said in a research note that ESG is entering an era in which it genuinely affects financial outcomes, and unveiled 10 stocks set to benefit from the ESG transition. The Stock Exchange of Thailand is preparing to move from SET ESG Ratings to the FTSE Russell ESG Scores framework, with listed companies due to learn their own scores in 2026 and public disclosure beginning in 2027. Preliminary statistics from the 2025 FTSE Russell ESG Scores assessment show that 222 Thai listed companies averaged 3.6 out of 5, placing them at a Good practice level, with the utilities, healthcare, and oil and gas sectors scoring most strongly. KS said ESG development is reaching a regulatory level that will affect profits and ROIC through a carbon pricing mechanism with a pilot price of 200 baht per tonne of carbon equivalent, a planned emissions trading system trial in 2029-2030, the EU CBAM measure, and the IFRS S1/S2 standards and Thailand Taxonomy. A study of SET100 stocks found that high ESG-rated shares do not always trade at more expensive PER or PBV multiples or post higher EPS growth, but that good ESG enhances investability through liquidity and the shareholding of foreign and institutional investors. The case of DELTA, which was removed from the SETESG index, reflects how money from ESG-linked funds affects short-term price volatility. The 10 standout stocks span five themes: renewable energy business expansion, GULF, BCPG and CKP; green industrial infrastructure, WHA and AMATA; ESG data services and carbon management, DITTO and BBIK; sustainable finance, BAY and TTB; and the circular economy, SCGP.