Asia Plus Securities reports that THCOM posted a normalized loss of THB 88 million in the second quarter of 2026, better than the research team and market expectations of a loss of around THB 103 to 106 million, and an improvement from the normalized loss of THB 105 million in the first quarter of 2026. This was due to a lower share of loss from joint ventures, which fell to just THB 4 million from THB 23 million in the previous quarter. The research team has therefore revised up its earnings forecasts, reducing the projected normalized loss for 2026 from THB 478 million to THB 393 million, and raising the 2027 profit forecast by 12 percent to THB 381 million. It has also rolled forward its target price to 2027 at THB 11.30, and upgraded its recommendation from Sell to Trading, expecting earnings to turn profitable in 2027 driven by the Phase 3 border internet project auction.
Thaicom Public Company LimitedTHCOM's normalized loss beat expectations, forecasts improved, and target price raised to THB 11.30.
Asia Plus Group Holdings PCL