Bank stocks surge as UBS raises SCB target to 165 baht, DAOL tips KTB and KBANK as top picks

Kaohoon··TH·Read original
3▲5 ▼0Impact / 5
Summary · why it matters

Thai bank stocks rose sharply, with SCB at 155.50 baht at 14:35 on 21 September 2026, up 3 baht or 1.97%, while KBANK stood at 259 baht, up 6 baht or 2.37%, and KTB at 45.50 baht, up 0.50 baht or 1.11%, after Fitch Ratings revised Thailand's credit outlook from negative to stable and affirmed its BBB+ rating, leaving Fitch, Moody's and S&P Global Ratings all with a stable outlook on Thailand. Analysts at DAOL Securities (Thailand), or DAOLSEC, maintained an overweight weighting on the banking sector, picking KTB with a buy recommendation and a 50.00 baht target and KBANK with a buy recommendation and a 270.00 baht target as their top picks, and expect KTB and TTB to benefit most from the credit outlook revision. Analysts at UBS upgraded SCB to buy from hold and raised its price target to 165.00 baht from 152.00 baht, while lifting 2027-2028 earnings per share forecasts by 2-5% on lower credit cost estimates of 1.55%-1.60%, and kept their forecast for a high dividend payout ratio of 80% for 2026-2027.

Impact on assets 7

Financials▲ · 4 stocks
UBS Group AG
UBSG
▲ PositiveCapitalrelevance

UBS is the analyst upgrading SCB and raising its target, a positive research action for the bank.

Cloud & Digital Infrastructure▲ · 2 stocks
Digital Finance & Tokenization▲ · 1 stocks
SCB X Public Company Limited
SCB
▲ PositiveCapitalrelevance

UBS upgrades SCB to buy from hold and raises its price target to 165 baht on lower credit cost estimates.

Off-coverage companies 2

DAOL Securities (Thailand) Public Company LimitedPrivate± Mixed
relevance

Fitch RatingsPrivate± Mixed
relevance

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