Dao Securities sees SET edging up, recommends speculative plays on SPALI and EPG

HoonSmart·13 Aug 2026·

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2▲2 ▼0Impact / 5

Analyst Earnings Chemicals

EPG.BK ▲

SPALI.BK ▲

Summary · why it matters

Dao Securities (Thailand) expects the SET Index to move sideways with an upward bias after US inflation came in line with expectations, easing investor concerns about Federal Reserve rate hikes, while the market continues to watch second-quarter earnings announcements. MSCI announced the inclusion of GUNKUL and HANA in the MSCI Thailand Small Cap Index, while removing CHG and JTS. The main strategy expects buying in large-cap stocks on potential foreign fund inflows, especially DELTA, and recommends speculative plays on stocks with expected strong results. Today's standout is SPALI, whose second-quarter 2026 net profit beat expectations by 111 percent at 1.6 billion baht, up 49 percent from a year earlier and 310 percent from the previous quarter, driven by strong transfers and a rise in profit sharing from joint ventures to 890 million baht. Dao Securities upgraded the stock to buy and raised its target price to 19.00 baht after lifting its 2026 profit forecast by 9 percent to 4.4 billion baht, with a dividend yield of about 8 percent per year. EPG posted record first-quarter fiscal 2027 core profit, beating expectations by 14 percent at 474 million baht, up 53 percent from a year earlier and 28 percent from the previous quarter, as all businesses improved, especially Aeroflex, which stood out in the US market. Dao Securities recommends buying EPG and raised its target price to 8.50 baht after lifting its fiscal 2027 core profit forecast by 5 percent to 1.6 billion baht, up 21 percent from a year earlier, with the stock trading at a fiscal 2027 core price-to-earnings ratio of 10.3 times, or minus 1.1 standard deviations. Today's SET Index range is seen with support at 1,600 to 1,606 points and resistance at 1,617 to 1,623 points.

Eastern Polymer Group Public Company Limited ▲

Supalai Public Company Limited ▲