DBS upgrades CPF stock to Buy with THB 25.50 target

CPF stock had THB 283.90 billion sales and THB 8.95 billion net profit in first half 2026. The board paid THB 0.45 interim dividend on September 11, 2026.

DBS upgraded CPF stock to Buy from Hold and set a THB 25.50 target on August 18, 2026, as MarketScreener reported. The upgrade gives the stock a defined earnings-recovery angle, while the latest operating figures show the scale behind the case.

First-half sales reach THB 283.90 billion

Charoen Pokphand Foods generated THB 283.90 billion in sales and THB 8.95 billion in net profit during the first half of 2026, according to ThaiCapitalist on October 6, 2026. The same report said the company paid an interim dividend of THB 0.45 on September 11, 2026, after the final THB 0.25 dividend for 2025.

The first-half figures provide a stronger comparison point than the share-price move alone. CPF's second-quarter revenue was THB 147.19 billion and net income was THB 4.08 billion, while first-quarter revenue was THB 136.70 billion and net income was THB 4.88 billion in the finance statement series for 2026.

Livestock prices shape earnings

Higher animal prices are central to the recovery thesis. TradingView reported on September 10, 2026, that ttb wealth securities cited Thai swine prices of THB 72 per kilogram in August, up from THB 63 per kilogram in the second quarter.

The report also said farming represents 54 percent of total revenue and that the brokerage raised its target to THB 28.00 from THB 23.00 while keeping a Buy rating. That comparison is important because it links the target to an operating driver rather than to a purely technical share-price argument.

SET quote stays below yearly high

CPF traded at THB 21.30 on the Stock Exchange of Thailand on October 6, 2026, with a 52-week range of THB 18.10 to THB 24.00. The price was THB 2.70, or 11.25 percent, below the yearly high, leaving the livestock cycle and the next earnings update as the main valuation reference points.

Charoen Pokphand Foods at a glance

• Company: Charoen Pokphand Foods Public Company Limited
• Ticker: CPF
• Primary exchange: Stock Exchange of Thailand
• Sector / Industry: Consumer Defensive / Agricultural Farm Products
• Market capitalization: THB 162.2 billion as of October 6, 2026
• 52-week range: THB 18.10-THB 24.00 as of October 6, 2026