Yuanta Securities has raised its target for the SET Index in mid-2027 to 1,770 points, up from 1,650 points, after second-quarter 2026 net profit for the SET Index hit a new record of 390 billion baht, up 8.9% quarter-on-quarter and 13.1% year-on-year, exceeding Yuanta's estimate by as much as 26%, supported by upstream energy, refining, petrochemicals, retail, and finance. Yuanta has raised its earnings per share estimates for 2026 and 2027 to 103 baht per share and 106 baht per share, respectively, from 95 baht per share and 100 baht per share, while setting a SET Index target of 1,820 points for end-2027, still based on a price-to-earnings ratio of 17 times. Yuanta sees a chance for Thai listed company earnings to enter a new base-building cycle above 100 baht per share per year, and recommends stocks expected to deliver continued profit growth in 2026-2027, namely ADVANC, AMATA, EPG, FORTH, GULF, GUNKUL, NCAP, and SMT.
Next Capital Public Company Limited
Stars Microelectronics (Thailand) PCL
