KSS Sees Thai Stocks in Short-Term Consolidation, Awaits Trump-Xi Talks, Eyes BDMS, GULF, GPSC

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Summary · why it matters

Chaiyot Jiwangkul, Assistant Director of the Securities Analysis Department at Krungsri Securities Public Company Limited, or KSS, said the Thai stock market is likely to enter a short-term consolidation phase as it awaits clarity on external factors, particularly the situation between the United States and Iran, as well as the meeting between US President Donald Trump and Chinese President Xi Jinping on September 24, 2026, with the market focusing on trade, artificial intelligence, critical minerals, and supply chains. Most recently, Brent crude fell below 100 dollars per barrel amid expectations for US-Iran talks and Saudi Arabia's resumption of oil shipments through the East-West Pipeline, which has eased concerns about global oil supply and is seen as a positive factor for the investment climate. On investment strategy, KSS recommends focusing on individual securities and industry groups with specific positive factors. The first group it favors is hospitals, with Bangkok Dusit Medical Services Public Company Limited, or BDMS, as the top pick; KSS expects its third-quarter 2026 net profit to reach a record high of approximately 4.55 billion baht, with a target price of 25 baht. The power plant group is also attractive given falling oil prices and bond yields, with a recommendation on Gulf Development Public Company Limited, or GULF, with a target price of 77 baht, and Global Power Synergy Public Company Limited, or GPSC, with a target price of 61 baht.

Impact on assets 4

Energy Transition & Power Demand▲ · 2 stocks
Global Power Synergy PCL
GPSC
▲ PositiveCapitalrelevance

KSS recommends GPSC with a 61 baht target price, favored on falling oil prices and bond yields

Aging Population▲ · 1 stocks
Financials▲ · 1 stocks
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