Yuanta Securities issued an analysis of Major Cineplex Group Public Company Limited, or MAJOR, expecting third-quarter 2026 profit to recover both quarter-on-quarter and year-on-year, driven by blockbuster films that boosted attendance, while ticket, food and advertising revenue grew at a double-digit pace and fixed costs helped profit grow faster than revenue. The fourth-quarter 2026 outlook remains on a recovery path thanks to major films and cost control, even though the first half of 2026 was weak. The brokerage maintained its 2026 profit forecast at 555 million baht, down 12% from a year earlier, and expects 2027 to continue growing on new cinema openings, cost-control strategy, closure of loss-making branches, and expansion of the popcorn business together with TKN. The company announced a capital reduction of 75.67 million treasury shares, or 9.98%, leaving 682.25 million shares, which is positive for shareholders and supports value per share. The analyst maintained a Buy recommendation and raised the 2027 base value from 9.20 baht to 9.75 baht, assessed using the DCF method under a WACC of 8.0% and terminal growth of 2.5%.
Major Cineplex Group Public Company LimitedYuanta maintains Buy, raises 2027 base value to 9.75 baht, and the treasury-share capital reduction supports value per share.
