Kasikorn Securities recommends buying shares of Land and Houses Public Company Limited, or LH, with a target price of 4.33 baht, after the company informed the Stock Exchange of Thailand on 13 August of the appointment of Mr. Achawin Asavabhokin as the new executive chairman, replacing Mr. Naphorn Sunthornchitcharoen, who will retire on 31 December 2026. Mr. Achawin will assume the position on 1 January 2027. The company also appointed Mr. Wit Tantawanwong as chairman of the board, replacing Mr. Naphorn in another role. The research team views this as slightly positive, as the change in top management is expected to mark the beginning of improvements in management style, strategy, and overall operating targets, which is important in a highly competitive market. Mr. Achawin currently serves as managing director, a position he has held since 1 January 2026, and previously was deputy managing director and chief financial officer of LH. The research team sees LH shares as attractive for an earnings recovery expected from the fourth quarter of 2026 onward, supported by the start of ownership transfers for the large condominium project One Bangkok Chao Phraya, worth 15 billion baht, of which 57% has been sold, the opening of the Grand Centre Point Voyage Pattaya hotel, and asset sales in Thailand and the United States. Factors that could support a re-rating of the stock include increased market confidence in the recovery of the residential business, especially from major developers, as well as LH's new business plans and strategies under the new executive chairman.
Land and Houses Public Company LimitedKasikorn Securities recommends buying LH with a target price of 4.33 baht, citing management change and earnings recovery.
