Gulf Energy Development Public Company Limited, or GULF, reported second-quarter 2026 core profit of 10.405 billion baht, up 12% from the previous quarter and 47% from a year earlier, marking a new all-time high. The result was boosted by dividend income from Kasikornbank of 2.842 billion baht. The research unit of Yuanta Securities Thailand expects core profit in the third quarter of 2026 will not grow from the previous quarter due to the absence of the Kasikornbank dividend, but should still grow year-on-year. It maintains a target price of 91 baht and a buy recommendation. Meanwhile, the research unit of Asia Plus Securities notes that first-half 2026 core profit accounts for 56.7% of its full-year estimate, and keeps a target price of 80 baht with a buy rating. The research unit of Land and Houses Securities has raised its target price to 72 baht and maintained a buy recommendation, saying first-half 2026 core profit represents 72% of its full-year forecast, reflecting potential for upward estimate revisions.
Gulf Energy Development Public Company LimitedRecord Q2 2026 core profit and positive analyst ratings/target price hikes.
Kasikornbank Public Company LimitedDividend income from Kasikornbank contributed to GULF's profit, but no direct impact on Kasikornbank itself.
