Yuanta Securities maintains a "Buy" recommendation on SAT, or Somboon Advance Technology Public Company Limited, keeping its 2027 fundamental value at 18.80 baht, based on a 5-year average PER of 9.50 times. This follows the company's expectation that 2026 profit will grow 8% from the previous year to 792 million baht. Although revenue is expected to slow in line with the Federation of Thai Industries' car production target of 1.45 million units, down 0.4% from the previous year, it is supported by cost control and increased capacity utilization, rising from around 65% in the second quarter of 2026 to more than 70-75% in the second half of the year, driven by the recovery of the agricultural machinery business after Kubota relaxed credit conditions. Meanwhile, the company is in the process of securing new orders under LOIs worth around 300-400 million baht, which will gradually contribute to revenue in 2027-2028. It is also expected to pay an annual dividend of 1.65 baht per share, representing a yield of approximately 10.2%.
Somboon Advance Technology Public Company LimitedCompany expects 8% profit growth and high dividend yield, with buy rating and target price.
Kubota Corporation
