Asia Plus sets SET year-end 2026 target at 1,720 points, recommends 8 laggard stocks

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3▲8 ▼0Impact / 5
Summary · why it matters

Asia Plus Securities estimates the SET index target at the end of 2026 at 1,720 points, based on an assumption of 2026 earnings per share of 95 baht per share. It notes that the overall investment picture in the fourth quarter faces the risk of accelerating inflation from the Middle East war that has dragged on for more than 7 months, which pressured the average September 2026 WTI crude oil price to 95.6 dollars per barrel, up 50% compared with the previous year. Meanwhile, the United States is collecting import tariffs from trading partners at an effective rate as high as 12.5% to 19%, up from the previous 2% to 2.5%, and investment in data centers and AI infrastructure has pushed prices of software and computer equipment up 25.4% compared with the previous year, hitting a new high. On the Thai economy, the ratio of public debt to GDP stands at 67.45%, close to the fiscal discipline ceiling of 70%, while the impact of flooding is estimated at approximately 5 billion to 10 billion baht, which could drag third-quarter GDP growth down to 2.2% to 2.5%. The research department has adjusted its strategy from index selection to selective stock selection, focusing on stocks that benefit from the high season and the low base effect, namely CPN, CBG, THAI, BDMS, BBL, COM7, STECON, and GUNKUL, and recommends holding cash at around 10% to 15% of the portfolio.

Impact on assets 8

Energy Transition & Power Demand▲ · 1 stocks
Artificial Intelligence▲ · 1 stocks
Aerospace & Aviation▲ · 1 stocks
Digital Finance & Tokenization▲ · 1 stocks
Bangkok Bank PCL
BBL
▲ PositiveCapitalrelevance

Asia Plus recommends BBL as one of eight laggard stocks to buy under its selective stock-selection strategy.

Aging Population▲ · 1 stocks
Consumer Staples▲ · 1 stocks
Consumer Discretionary▲ · 1 stocks
Com7 PCL
COM7
▲ PositiveCapitalrelevance

COM7 is one of the eight stocks Asia Plus recommends under its selective stock-selection strategy.

Real Estate▲ · 1 stocks
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