Yuanta Securities Thailand recommends buying PLANB shares with a fair price of 6.10 baht, forecasting a net profit of 281 million baht for the second quarter of 2026, up 35 percent from the previous quarter and 4 percent from the same period last year. This is driven by the Engagement Marketing business, which is expected to grow 65 percent year-on-year, supported by the recovery of foreign tourist arrivals. Meanwhile, the out-of-home media business is still growing 2 percent. The research team expects second-half 2026 performance to be better than the first half, thanks to revenue recognition from new media, advertising package sales with VGI, and events, as well as the opportunity to handle public relations work for the Asian Games. As a result, full-year 2026 revenue growth is maintained at 6 to 7 percent. In addition, PLANB holds an 11.01 percent stake in COM7, which opens up opportunities to expand into Retail Media and advertising on EV taxis. The company is expected to start recognizing share of profit through the equity method as early as September 2026, which will contribute around 260 million baht to share of profit in 2027. There is also a chance to increase the investment proportion next year. Although the overall media industry still faces pressure from advertising spending, which is expected to contract slightly by 0.5 percent, PLANB still has a tendency to grow above the industry, supported by its strong out-of-home and Engagement Marketing businesses.
Plan B Media PCLYuanta Securities recommends buying PLANB with target price 6.10 baht, forecasting Q2 profit up 35% QoQ and 4% YoY.
Com7 PCLPLANB holds 11.01% stake in COM7, which may increase investment proportion, but COM7 itself is not the focus.
VGI Public Company Limited