Phillip Securities (Thailand) recommends buying shares of Srisawad Corporation Public Company Limited, or SAWAD, with a 2027 target price of 30 baht. It expects third-quarter 2026 profit of 1.4 billion baht, up 7.3% from the same period a year earlier and up 1.4% from the previous quarter, marking a record high. The year-on-year profit increase comes from higher interest income driven by loan growth, while interest expenses are expected to decline. On a quarter-on-quarter basis, although revenue rose, higher interest expenses and increased provisioning kept profit flat. Third-quarter 2026 loans are expected to accelerate by 2.5% from the previous quarter, bringing loan growth to 4.1% from the end of 2025. However, non-performing loans may rise from 3.86% in the previous quarter. Phillip's research team maintains its full-year 2026 profit forecast for SAWAD at 5.6 billion baht, up 11.9%, driven by higher interest income from loan growth.
Srisawad Power 1979 PCLPhillip Securities recommends buying SAWAD with a 30 baht target and forecasts record Q3/2026 profit of 1.4 billion baht.
