KCE shares closed the morning session at 74.75 baht, up 10.33%, driven mainly by a broker upgrading its target price to 104 baht. Kiatnakin Phatra Securities maintained its buy recommendation and sees strong profit growth potential for KCE as it enters a new growth cycle. The company's estimated 2026 profit is expected to surge 95%, reflecting a recovery in the automotive industry and an upcycle in the PCB industry, which is the company's core business. PCB prices are entering an upcycle amid rising demand for electronic components driven by the technology and AI cycle, while signs of tight PCB supply give the company room to raise selling prices. Kasikorn Securities sees KCE benefiting from PCB price increases from the second half of 2026 onward. As for third-quarter 2026 profit trends, they are improving on higher PCB selling prices and cost controls that are starting to bear fruit, especially for chemical costs, which account for a relatively high share of cost of sales, while lower oil prices help ease pressure from raw material costs. There is also speculative interest in electronics stocks after the broader technology and semiconductor industry recovered. Earlier, Bualuang Securities also picked KCE as one of its top stocks on the global technology and manufacturing cycle theme.
KCE Electronics Public Company LimitedBroker Kiatnakin Phatra raised its target price to 104 baht and maintained buy, citing 95% profit growth in 2026.
