KS-SBITO says floods only slightly dent tourism, recommends home-repair and retail stocks to benefit from recovery

Kaohoon··TH·Read original
2▲11 ▼0Impact / 5
Summary · why it matters

Securities analysts at Kasikorn Securities, or KS, said that although nationwide reservoir water levels are as high as 78% of capacity, the tourism sector is still operating normally, so they estimate that third-quarter 2026 earnings for the tourism group will be affected only slightly. Airports of Thailand, or AOT, has reported no flight cancellations, and major airlines AAV, BA and THAI continue to operate as normal. Meanwhile, hotel operators led by AWC, CENTEL, DUSIT, ERW, MINT, SHR and VRANDA have suffered no property damage, though room booking cancellations in the provinces run about 2% to 15%, partly offset by guests extending their stays. KS therefore maintains its investment weighting on the hotel group, sees the drop in share prices driven by the flood factor as a buying opportunity, and recommends buying AWC with a target price of 3.74 baht, CENTEL with a target price of 48.11 baht, and THAI with a target price of 6.78 baht. Separately, SBI Thai Online, or SBITO, assesses that this crisis will be a medium-term boost for four main business groups in the recovery: the home repair and construction materials group, led by HMPRO, GLOBAL, DOHOME and MR.DIY; the retail and consumer goods group, led by CPALL and CPAXT; the communications group, led by ADVANC and TRUE; and the tourism group, where economic activity will gradually recover after the situation eases.

Impact on assets 20

Consumer Discretionary▲ · 9 stocks
Industrials▲ · 3 stocks
Real Estate▲ · 2 stocks
Digital Finance & Tokenization▲ · 2 stocks
CP ALL Public Company Limited
CPALL
▲ PositiveDemandrelevance

SBITO expects the retail and consumer goods group led by CPALL to benefit from medium-term recovery after the floods.

Cloud & Digital Infrastructure▲ · 2 stocks
Consumer Staples▲ · 1 stocks
Aerospace & Aviation▲ · 1 stocks
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