IAA Expects SET to Close 2026 at 1,680 Points, Recommends 5 Standout Stocks: BDMS, KBANK, DELTA, GULF, CRC

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The Investment Analysts Association, or IAA, estimates that the SET Index in the fourth quarter of 2026 will move within a range of 1,537 to 1,683 points and is expected to close the year 2026 at 1,680 points. Sombut Naravuttichai, secretary-general of the association, said the survey of analysts and fund managers from 25 companies has not yet incorporated the impact of the flood situation, and puts the SET Index target for the end of 2027 at 1,727 points. It also forecasts average market EPS of 103.38 baht for 2026 and 104.29 baht for 2027, representing average EPS growth of 16.41% in 2026. Five stocks are recommended by four or more research houses in agreement: BDMS, KBANK, DELTA, GULF and CRC. The association recommends increasing weighting in tourism, healthcare, banking, power plants, utilities, commerce and electronics, while most analysts advise avoiding energy and petrochemical stocks, airlines and property. Wichit Arayapisit, senior director of the securities analysis department at Kasikorn Securities, said the firm has raised its SET Index target for the end of 2027 to 1,680 points from 1,620 points, and estimates EPS this year at 110 baht per share, while next year it is expected to fall about 5% to 105 baht per share. It recommends a defensive strategy for the fourth quarter of 2026, favouring electronics such as DELTA, KCE and HANA, power plants such as GULF and GPSC, banks such as KTB and KKP, and hotels and tourism such as CENTEL and AWC.

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GULF is one of five stocks recommended by four or more research houses and a favored power-plant pick.

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