Kasikorn Securities recommends buying DELTA with a 300 baht target and CK with a 29.27 baht target; SET range today 1,590-1,620 points

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Kasikorn Securities estimates the SET index range today at 1,590-1,620 points, after the Thai stock market closed yesterday at 1,602.58 points, down 8.12 points or 0.50%, on selling pressure in media, finance, petrochemical and construction stocks. Foreign investors were net sellers of Thai shares for a third consecutive day, at 661 million baht. The brokerage recommends DELTA and CK as its top picks for the day. For DELTA, it sets a fair value of 300 baht, viewing the recent correction as merely a short-term pause while AI demand remains strong, and expects normal profit to grow at a CAGR of about 32% during 2026-2028, maintaining a buy rating. For CK, it sets a fair value of 29.27 baht after CK sold 200 million BEM shares at 6.50 baht each, reducing its holding to 40.95% and raising about 1.3 billion baht in cash for working capital. It expects a one-off gain to be recognised in the third quarter of 2026 after tax of about 242 million baht, and takes a positive view on the chance of winning state contracts in 2027, when projects worth no less than 200 billion baht are expected to be put out to tender. On the domestic front, the Ministry of Commerce reported that Thailand's exports in August 2026 came to 347 billion baht, up 24.8% from the same period a year earlier. News items to watch include US-Iran talks over the Strait of Hormuz, talks between Donald Trump and President Xi Jinping on AI, Google's investment in a data centre in Thailand worth 36 billion baht, and the collection of a 450 baht fee on foreign tourists.

Impact on assets 4

Industrials± Mixed · 2 stocks
CH. Karnchang PCL
CK
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Kasikorn Securities maintains buy with 29.27 baht fair value after CK's BEM share sale, one-off gain, and state-contract prospects.

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