Kiatnakin Phatra Securities (KKPS) has raised its target price for Krungthai Card (KTC) to 43.00 baht from 38.00 baht, while maintaining a "Buy" recommendation, based on three positive factors: an upward revision of profit forecasts starting from 2028, an increase in the dividend payout ratio assumption to 70% from 2027, and a slight reduction in the cost of capital to 9.1% from 9.2%. Additionally, KKPS has raised its earnings estimates for 2028-2030 by 2-7% due to better loan growth prospects, while credit costs and funding costs are expected to decline. The brokerage expects EPS to grow 12.1% in 2026 and 7.1% in 2027, with ROE as high as 19%, supporting the investment appeal.
Krungthai Card PCLKKPS raised target price and maintained Buy on improved forecasts, higher dividend payout, and lower cost of capital.
