KGI Securities (Thailand) raised its end-2027 target price for COM7 shares to 36.00 baht from 30.00 baht and upgraded its recommendation from "Hold" to "Buy" after disclosing the results of an online meeting with management: demand for the iPhone 18 Pro grew by double digits in unit terms compared with the iPhone 17, and the iPhone 18 set a new record for the number of units delivered to customers in the first three days of availability for devices that had been pre-ordered. The company also expects the iPhone Duo, which opens for pre-order on October 16 and goes on official sale on October 23, 2026, to receive a strongly positive reception, with the iPhone 18 Pro priced US$100 higher, while flagship models from Chinese smartphone brands rose by 1,000 to 3,000 yuan. The KGI Taiwan research team expects the iPhone Duo, with a starting price of US$1,999, to ship 6 million foldable iPhones in 2026 and 14 million units in 2027, or 24% of the foldable smartphone market, ranking second. The drivers include strong iPhone 17 demand, an roughly 15% increase in the iPhone 17 selling price after the launch of the iPhone 18, demand for the iPhone 18 Pro, and continued growth in the non-IT business, including U-fund, which is expanding new loans by about 1.2 million baht per month, and iCare. KGI expects COM7's net profit for the third quarter of 2026 to come in at 1.3 billion baht, up 50% year on year and flat quarter on quarter, while net profit for the first nine months of 2026 is expected at 3.8 billion baht, up 34% year on year. It also raised its profit forecasts by another 10% for 2026 and another 12% for 2027, expecting profit growth of 32% in 2026 and 13% in 2027, with a further 15% of upside.
Com7 PCLKGI raised COM7's target price to 36 baht and upgraded to Buy, citing expected Q3 profit of 1.3 billion baht (+50% YoY) and raised 2026-27 forecasts.
