Krungsri Securities rates MOSHI as a buy on any price decline driven by flooding in Bangkok and its vicinity, maintaining its Buy recommendation and its 2027 target price of 54.0 baht, based on a DCF method with a WACC of 8.3% and terminal value growth of 1.0%. Heavy rain and flooding in Bangkok and the eastern perimeter over the past week forced MOSHI stores to close on Saturday and Sunday, 15 and 13 branches respectively, out of an expected total of 228 branches at the end of 2026. At the end of the second quarter of 2026, the company had about 79 branches in Bangkok, 25 in the central region, 23 in the east, 4 in the west, 35 in the northeast, 22 in the north and 30 in the south. The research team expects same-store sales growth in the third quarter of 2026 to remain positive at about 1-2% year on year, down from 3-4% from the start of the quarter to mid-September, and estimates third-quarter 2026 profit growth will slow to about 10-15% year on year from an earlier forecast of 15-20%. Revenue is still expected to grow 15% year on year, driven by same-store sales growth of 1-2% and new branches adding 14% year on year. It maintains 2026 profit at 787 million baht, up 17% year on year, and keeps 2027 profit growth at 18% year on year, supported by same-store sales growth of 3% and about 35 new branches. MOSHI is picked as the top stock in the sector on clear growth prospects and a strong financial position. The stock currently trades at a 2026 price-to-earnings ratio of 14.6 times, with an expected dividend yield of 4.1%.
Moshi Moshi Retail Corp. PCLKrungsri maintains Buy rating and 54 baht target price on MOSHI, calling the flood-driven pullback an accumulation point
Bank of Ayudhya PCL