Key Indices
Top Stories
Company Results | Bangkok Chain Hospital (BCH TB/BUY/Bt11.20/Target: Bt14.00)
- BCH’s 2Q26 earnings were weak as expected, with a net profit of Bt343m (-11.6% yoy), mainly due to weaker foreign patient revenue and lower extra revenue. However, Middle East patient revenue remains strong, while 3Q26 should benefit from rising epidemic-related cases, a potential recovery in Cambodian patient arrivals, and possible late-season Middle East arrivals. The prospective SSO treatment fee increase remains a potential upside, with a decision expected from late-3Q26 to early-4Q26. Maintain BUY with a target price of Bt14.00.
Company Update | Central Retail Corporation (CRC TB/BUY/Bt29.00/Target: Bt33.00)
- CRC’s analyst meeting had a slightly positive tone, with management raising its 2026 EBITDA growth target to +6-8% from +5-7%. Consumer spending has shown a recovery, which was a positive surprise for management, particularly in the food and fashion businesses. Maintain BUY with a higher target price of Bt33.00 (from 31.00).
Top Stories
Company Results | Bangkok Chain Hospital (BCH TB/BUY/Bt11.20/Target: Bt14.00)
- BCH’s 2Q26 earnings were weak as expected, with a net profit of Bt343m (-11.6% yoy), mainly due to weaker foreign patient revenue and lower extra revenue. However, Middle East patient revenue remains strong, while 3Q26 should benefit from rising epidemic-related cases, a potential recovery in Cambodian patient arrivals, and possible late-season Middle East arrivals. The prospective SSO treatment fee increase remains a potential upside, with a decision expected from late-3Q26 to early-4Q26. Maintain BUY with a target price of Bt14.00.
Company Update | Central Retail Corporation (CRC TB/BUY/Bt29.00/Target: Bt33.00)
- CRC’s analyst meeting had a slightly positive tone, with management raising its 2026 EBITDA growth target to +6-8% from +5-7%. Consumer spending has shown a recovery, which was a positive surprise for management, particularly in the food and fashion businesses. Maintain BUY with a higher target price of Bt33.00 (from 31.00).
Key Indices
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