DELTA rises 3.14% on Trump-Xi AI talks; brokerages say correction is over, expect record Q4/2026 profit

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DELTA shares rose 3.14%, or 8.00 baht, to 263 baht, with trading value of 4.9318 billion baht, after President Donald Trump and President Xi Jinping discussed AI for the first time. Trump backed free development, while Xi was open to setting boundaries and stressed that AI must remain under human control. The two sides remain at odds over chip export restrictions, but have begun looking for a joint mechanism to manage risk, and extended their trade truce to January 10. Kasikorn Securities maintained its buy rating with a target price of 300 baht, viewing the correction as merely a short-term reset and expecting normal profit CAGR of about 32% in 2026-2028. Bualuang Securities maintained its buy rating with a target price of 330 baht, after Morgan Stanley raised its power assumptions for the Vera Rubin rack to 234kW from 149kW and for Rubin Ultra to 600kW from 415kW, and revised its global Server/Rack power demand forecasts for 2026-2028 to 18GW, 35GW and 52GW, compared with our assumptions of 15GW, 20GW and 25GW respectively, and raised its liquid cooling capex assumption by 30%. DELTA's third-quarter 2026 sales are expected at 2.2 billion US dollars, with a gross margin of 29.2% and core profit of about 9 billion baht, before the fourth quarter of 2026 has a chance to set a new record high.

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BBL Asset Management Company Limited (Bualuang Asset Management)Private± Mixed
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Bualuang Securities maintained its buy rating and 330 baht target price on DELTA, but the article gives no company-specific development for BBL Asset Management itself.

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