Summary · why it matters
Several brokers have upgraded shares of Plan B Media, or PLANB, to Top Pick in the media sector after the shareholders' meeting of Comseven, or COM7, approved the appointment of Mr. Parin Lojanagosin and Mr. Pinijsorn Luechaikajonphan, representatives from PLANB, as directors of COM7 out of a total of nine, a proportion of more than 20%. As a result, PLANB will change how it recognises returns from its 11.01% stake in COM7 as of July 2026, switching immediately from the dividend income method to the equity method of recognising its share of profit or loss from the associate. It will begin recognising its share of profit from COM7 of about 20 million baht in the third quarter of 2026, and expects to recognise a full quarter of about 30 million baht in the fourth quarter of 2026 after deducting interest, which will push quarterly profit to a record high. Meanwhile, second-half 2026 results will be supported by the Asian Games and by the first-time recognition of its share of profit from COM7. Third-quarter 2026 revenue is expected at 2.7 billion baht, up 15% year on year and 3% quarter on quarter, with core profit for the third quarter of 2026 expected at 300 million baht, up 5% year on year and 3% quarter on quarter. Bualuang Securities said PLANB is transforming from a stock tied to the recovery of the out-of-home media business into a broader Attention platform, with sports, advertising media through COM7's retail business, and Mobility adding new revenue sources. It set a target price for PLANB shares for 2027 at 6.80 baht, based on a PER of minus one standard deviation of PLANB at 20 times. Krungsri Securities raised its 2026 profit forecast for PLANB by 10% and its 2027-2028 forecasts by 17%, saying it had lifted its 2027 target price by 14% to 8.10 baht from 7.10 baht, reflecting a higher share of profit from its investment in COM7, and expects net profit to grow 14% year on year in 2026 and 25% year on year in 2027. Dao Securities (Thailand) kept its 2026 net profit estimate at 1.258 billion baht, up 14% year on year, excluding the COM7 deal from its estimates, maintained its buy recommendation and kept its target price at 7.10 baht based on 2026 estimated PER of 26 times. It also estimated a new target price of 7.40 baht for 2026 and 10.5 baht for 2027 based on a PE of 26 times, expecting net carry under the equity method to be 53 million baht in 2026 before turning into 422 million baht in 2027. PLANB also has the opportunity to work with COM7 to develop in-store media across more than 1,400 branches nationwide, as well as media in EV7 taxis, which are expected to reach 5,000 vehicles in 2026.
Plan B Media PCL
Com7 PCL