CGSI recommends buying TIDLOR shares and has raised its target price from 24 baht to 25 baht after first-half 2026 net profit came in better than expected. In the second quarter of 2026, net profit was 1.53 billion baht, up 18.3 percent from a year earlier but down 5.0 percent from the previous quarter, in line with the analyst team's estimate and the Bloomberg consensus. The analyst team raised its 2026 to 2028 earnings per share estimates by 7.6 to 8.1 percent after lowering its credit loss reserve assumption from 245 to 267 basis points to 220 basis points and raising its 2027 to 2028 loan growth assumption from 6 to 7 percent to 8 percent. It maintained its buy recommendation, noting that the current share price trades at a 2026 price-to-book value of only 1.4 times, compared with a five-year average of 2.08 times, and offers a high dividend yield of 4.9 to 5.9 percent per year in 2026 to 2028.
Ngern Tid Lor Public Company LimitedCGSI raises target price to 25 baht and maintains buy on better-than-expected H1 2026 net profit and higher EPS estimates.
