Three brokers lowered their target price for AEONTS shares after the company reported second-quarter net profit that fell short of expectations. InnovestX said net profit for the second quarter of fiscal 2026 fell 19% quarter-on-quarter and 19% year-on-year, driven by expected credit losses mainly from its Cambodian subsidiary, as well as by net interest margin. The research team cut its fiscal 2026 profit forecast by 7% but maintained its OUTPERFORM rating, lowering its mid-2027 target price from 116 baht to 108 baht, based on a price-to-book value of 0.9 times. It expects an attractive dividend yield of 6.65% and sees the valuation as inexpensive at a price-to-book value of 0.77 times, against a return on equity of 10% for fiscal 2026. KGI said its second-quarter 2026 results were weak, reflecting shrinking revenue and deteriorating asset quality that pressured credit costs, and it expects credit-cost pressure to continue in the coming quarters. It maintained its Underperform rating with a 2026 target price of 98.00 baht. UOB Kay Hian Thailand said AEONTS reported net profit of 642 million baht for the second quarter of fiscal 2027, down 19% year-on-year and 19% quarter-on-quarter, with higher provisions reflecting worsening asset quality in its hire-purchase loan portfolio. AEONTS also declared an interim dividend of 3.00 baht per share, above the baseline of 2.55 baht seen over the past several years, which it called a positive surprise. The research team downgraded the stock to Hold and cut its target price to 98.00 baht from 120.00 baht, while lowering its fiscal 2027 to 2029 profit forecasts by 11.2%, 11.5% and 6.8% respectively.
AEON Thana Sinsap (Thailand) Public Company LimitedQ2 profit missed expectations with 19% YoY/QoQ decline on higher credit losses and NPLs, prompting three brokers to cut target prices and downgrade the stock.
KGI Securities (Thailand) Public Company Limited
