Dao Securities expects BJC's normalised profit for the second quarter of 2026 at 1.3 billion baht, up 13% year-on-year and 18% quarter-on-quarter. Revenue is projected to increase 11% year-on-year to 43 billion baht, driven by the first full quarter of booking MM Mega Market Vietnam revenue and continued strong growth in the packaging business, even though Big C same-store sales remain down about 3% year-on-year. Net profit also gets a boost from higher other income from land sales. The broker maintains its 2026 and 2027 net profit forecasts at 4.4 billion baht and 4.6 billion baht respectively, keeps a buy rating, but raises the target price to 18.50 baht from 17.00 baht, based on a 2026 price-to-earnings ratio of 16.8 times.
Berli Jucker PCLDao Securities raises target price to 18.50 baht and maintains buy rating on expected profit growth.
First full quarter of booking MM Mega Market Vietnam revenue drives revenue growth.