Tisco revises 2026 SET target up to 1,670 points, highlights 7 top stocks for August

Analyst
โดย thunhoon.com·Read original
Summary · why it matters

Tisco Securities has raised its 2026 target for the Stock Exchange of Thailand index to 1,670 points from 1,600 points, viewing the Thai stock market as a safe haven amid Middle East tensions and supported by improving economic fundamentals. It recommends overweight positions in banking, transport, healthcare, and tourism sectors in the second half of the year. The Tisco Economic and Strategy Analysis Centre has revised its GDP forecast for next year to 2.1 percent from 1.7 percent, after the Constitutional Court ruled that the 400 billion baht emergency loan decree is constitutional, allowing the inclusion of the impact from the latter 200 billion baht loan for energy transition in the estimates. The new SET Index target of 1,670 points is based on a forward price-to-earnings ratio of 17.6 times and SET earnings per share for 2026 and 2027 of 88.4 baht and 95.0 baht, respectively. For August, five-year and ten-year historical data show the SET Index has a 70 to 80 percent chance of closing positive, with average returns of 1.5 to 2.9 percent, supported by seasonal speculative buying around second-quarter earnings announcements, expectations of interim dividends, and the Thailand Focus event in late August, which historically has helped the SET Index rise in the two weeks following the event with a nearly 70 percent chance of a positive close and an average return of 1.4 percent. Top stock picks for August are CENTEL, COM7, CPN, GULF, KBANK, KTB, and PTT, with support levels at 1,570 and 1,540 points and resistance at 1,630 to 1,640 and 1,660 points. For foreign investment via depositary receipts, TENCENT80 and TRIPCOM80 are recommended.

Impact on stocks 8

Consumer Discretionary▲ · 2 stocks
Com7 PCL
COM7
▲ PositiveDemandrelevance

COM7 is listed as a top stock pick for August, benefiting from expected positive seasonality.

Energy Transition & Power Demand▲ · 2 stocks
Financials▲ · 2 stocks
Real Estate▲ · 1 stocks
Digital Finance & Tokenization▲ · 1 stocks
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