SBI Thai Online stated in an analysis dated September 14, 2026, that it holds a positive view on the second-half 2026 earnings outlook for Synnex (Thailand) Public Company Limited, or SYNEX, expecting support from the IT product sales season and the launch of new flagship smartphones and products, as well as accelerated disbursement of the government budget, a factor that directly benefits the commercial IT product group and the enterprise solutions group. SYNEX reported second-quarter 2026 net profit of 224 million baht, up 17.8% from the same period a year earlier, supported by its share of profit from Encapital Public Company Limited, or NCAP. Total revenue came in at 11.8 billion baht, up slightly 1.3% from the same period a year earlier, as it was affected by a shortage of Apple products stemming from conflict in the Middle East and a delay in orders ahead of new product launches late in the year. The gross margin rose to 3.96% from 3.83% in the same period a year earlier, in line with its plan to shift its revenue mix. In the second quarter of 2026, revenue from the commercial group grew 43.1% from the same period a year earlier, while the enterprise group grew 11.3%. The company maintained its 2026 total revenue target at 53 billion baht, and SBI Thai Online selected SYNEX as its top pick, with the latest share price in the analysis at 9.85 baht compared with the average analyst target price for 2026 of 11.39 baht. On the technical side, it gave support levels at 9.70 and 9.35 baht, with resistance at 10 and 10.50 baht.
Synnex (Thailand) Public Company LimitedSBI Thai Online selected SYNEX as top pick with a positive H2 2026 earnings outlook and an analyst target price of 11.39 baht versus 9.85 baht.
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