Krungsri Securities maintains a "Buy" recommendation on WHAUP, estimating normal profit for Q3/2026 at approximately 500 million baht, remaining at a high level both year-on-year and quarter-on-quarter, despite a high base last year. This is supported by a 9-10% increase in water sales volume and higher capacity charges. Meanwhile, the Duong River case, in which the Vietnamese appellate court upheld the first-instance ruling, is considered neutral, as there is still the right to appeal within one year and no provision is required. As for the Data Center, there are signals of new investment openings within 1-2 months, supporting long-term growth. The target price for 2027 is 9.70 baht.
WHA Utilities and Power Public Company LimitedBroker maintains Buy with Q3 profit estimate of 500 million baht and 2027 target price of 9.70 baht.
