Krungsri Securities has lowered its profit estimates for EGCO for 2026-2028 by an average of 40%, reflecting the weak performance of Yunlin and Paju, but maintains a Neutral stance with a target price of 124 baht, seeing long-term upside from investment opportunities in new projects under the PDP26F plan, including IPP power plants in Thailand, renewable energy, and gas-fired power plants in the U.S., which are not yet included in the estimates. EGCO's strengths include its existing power plant land with ready infrastructure and its status as a dividend play offering a yield of around 5%, the highest among power generation companies. The company has announced an interim dividend of 3.25 baht per share, representing a yield of 2.4%, with the ex-dividend date set for September 4.
Electricity Generating Public Company LimitedKrungsri Securities cut profit estimates for EGCO by 40% for 2026-2028 due to weak Yunlin and Paju performance.
