Analysts at KGI Securities Thailand have raised their dividend per share forecasts for CBG for 2026 to 2028 to 2.00 baht, 2.20 baht, and 2.40 baht, up from 1.30 baht, 1.40 baht, and 1.45 baht. They expect the payout ratio to rise to 67 to 69 percent from 41 to 47 percent, as the company has no need for large capital spending, which should improve shareholder returns and capital allocation efficiency. CBG will pay a first-half 2026 dividend of 1.00 baht per share, up from 0.70 baht per share in the same period last year, representing a yield of about 1.8 percent and a payout ratio of 74 percent. The analysts maintain a buy rating with a target price of 65 baht, based on a price-to-earnings ratio of 21 times, and see a high likelihood that CBG will be added to the SET50 index in the first half of 2027, which would be another positive factor for the share price. They also name CBG as their top pick in the beverage sector for the third quarter of 2026. Core profit in the third quarter of 2026 is expected to decline from the previous quarter but grow from the same period last year, as gross margin falls by 1 to 2 percent due to higher aluminum and gas costs for the full quarter, even though domestic energy drink sales are still growing 8 to 10 percent and distribution business revenue is expected to jump 20 to 25 percent. For the fourth quarter of 2026, profit is expected to improve both from the previous quarter and from the same period last year, as distribution revenue enters its high season and raw material costs decline.
Carabao Group Public Company LimitedAnalysts raise dividend forecasts and maintain buy rating with higher target price, citing improved shareholder returns and potential SET50 inclusion.
