Yuanta Securities forecasts WHAUP's normalised profit in the second quarter of 2026 at 353 million baht, up 76% from the previous quarter and 52% from a year earlier. The main driver is a swing back to profit contributions from the Gheco-One power plant after it resumed full-quarter operations with higher efficiency, along with recovering water demand and rising electricity sales revenue. Although surplus water usage income is expected to decline to 50 million baht, the research team has raised its 2026 and 2027 profit forecasts by 3% and 7% respectively, and adjusted the target price to 10.10 baht, maintaining a buy recommendation.
WHA Utilities and Power Public Company LimitedYuanta Securities raised profit forecasts and target price, maintaining buy recommendation.