Analysts have upgraded their recommendation on TOA from hold to buy, raising the fair value to 17.50 baht from 14.50 baht, after lifting profit forecasts for 2026 to 2028 by 21 percent, 15 percent, and 13 percent respectively, reflecting stronger-than-expected profitability. Net profit for 2026 is projected at 3.227 billion baht, with gross margin holding high at around 39 percent despite rising raw material costs. The full-year dividend is expected to yield about 5 percent. Meanwhile, two other brokers have set targets of 19 baht and 16.10 baht respectively.
TOA Paint (Thailand) Public Company LimitedBroker upgrades TOA to buy and raises target to 17.50 baht after lifting profit forecasts.