InnovestX cuts target for CP ALL stock from THB 65.00 to THB 60.00

CP ALL (ISIN TH0737010Y16) was assigned a lower target of THB 60.00 by InnovestX on October 7, 2026, down from THB 65.00. The research firm kept its Outperform rating and estimated third-quarter net profit at THB 6.10 billion, while the stock was trading at EUR 1.16 at Lang & Schwarz on October 20, 2026 at 7:35 p.m. CEST.

Target cut reflects CPAXT costs

According to InnovestX on October 7, 2026, the THB 5.00 target reduction followed lower earnings forecasts for CP Axtra, in which CP ALL holds 60 percent. InnovestX estimated THB 1.10 billion in one-off store closure expenses at CP Axtra and cut its 2026 and 2027 earnings forecasts by 4 percent and 1 percent.

The forecast still points to a mixed third quarter. InnovestX estimated core profit at THB 7.10 billion, up 10 percent year over year but down 4 percent from the second quarter, with stronger convenience-store sales and margins partly offset by weaker CP Axtra earnings.

Operating scale remains measurable

InnovestX projected CP ALL revenue of THB 1,022.995 billion for fiscal year 2026, compared with THB 990.663 billion for fiscal year 2025. Its forecast core profit was THB 31.010 billion for fiscal year 2026, versus THB 28.292 billion for fiscal year 2025, while the projected core earnings growth rate was 10.10 percent.

The same October 7 report projected 16,645 CP ALL convenience stores at the end of fiscal year 2026, up from 15,945 at the end of fiscal year 2025. It also expected same-store sales growth of 1.50 percent in fiscal year 2026 after a decline of 0.30 percent in fiscal year 2025.

Valuation at 12.98 times earnings

CP ALL had a market capitalization of THB 389.9 billion and a price-to-earnings ratio of 12.98 on October 20, 2026. Its 52-week range was THB 40.50 to THB 54.50, and volume reached 35,477,359 shares. The company operates convenience stores and related wholesale and retail businesses in Thailand and neighboring markets.

Price stays below the target

At the THB 43.75 home-market price on October 20, 2026, the InnovestX target of THB 60.00 stood 37.14 percent above the price. The report identified weak purchasing power, slower tourism recovery and continued pressure on CP Axtra consumer sales as risks.

Euro quote after the Xetra close

CP ALL was trading at EUR 1.16 at Lang & Schwarz on October 20, 2026 at 7:35 p.m. CEST. The euro quotation gives German investors a current intraday indication, while the company-specific valuation and analyst target remain denominated in Thai baht.

The further course of trading is shown by the continuously updated real-time quote of CP ALL stock.

CP ALL stock facts

• Company: CP ALL Public Company Limited
• ISIN: TH0737010Y16
• Ticker: CPALL
• Price Lang & Schwarz (as of October 20, 2026, 7:35 p.m. CEST): EUR 1.16
• Market capitalization: THB 389.9 billion (as of October 20, 2026)
• 52-week range: THB 40.50-54.50 (as of October 20, 2026)
• Sector / Industry: Consumer Defensive / Grocery Stores

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