KCE Electronics stock gets a Buy rating and THB 104 target

Published on 09/29/2026 at 19:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

KCE Electronics stock carries a 2026 EPS growth forecast of 95 percent. Q2 revenue reached THB 3.57 billion and net income THB 275.92 million.

KCE, TH0237010005, Illustration mit AI erstellt.

KCE Electronics stock received a Buy rating and a THB 104 price target from Kiatnakin Phatra Securities on September 29, 2026. The call centers on a potential earnings recovery in automotive printed circuit boards, advanced capacity and new applications linked to artificial intelligence.

Buy rating sets THB 104 target

As Kaohoon International reported on September 29, 2026, Kiatnakin Phatra Securities initiated coverage with a Buy rating and a THB 104 price objective. The brokerage said KCE is entering a stronger cycle after weak automotive demand had left it behind global printed circuit board peers.

The forecast is ambitious. Kiatnakin expects pre-exceptional earnings per share to grow 95 percent in 2026 and 110 percent in 2027, while its 2027 earnings estimate is 69 percent above consensus, according to Kaohoon International.

Q2 figures show sequential growth

KCE reported Q2 2026 revenue of THB 3.57 billion and net income of THB 275.92 million, compared with THB 3.11 billion in revenue and THB 234.27 million in net income in Q1 2026. The figures represent sequential increases of 15.04 percent and 17.78 percent, respectively, based on Investing.com data for the reported quarter.

The investment case extends beyond automotive demand. Kiatnakin expects communication revenue from satellite applications to equal 16 percent of PCB revenue in 2027 and 30 percent in 2028, with new factories supporting the expansion, according to Kaohoon International.

Risks center on execution

The same analyst view highlights delays in satellite commercialization, slower capacity ramp-up, weaker margin recovery and raw-material shortages as downside risks. KCE is also progressing through qualification for humanoid robotics PCB opportunities, with final design decisions still part of the commercial process.

SET quote stays near yearly high

KCE Electronics stock stood at THB 75.25 on the SET on September 29, 2026 at 4:37 p.m. ICT. Its 52-week range was THB 16.00 to THB 75.50, while market capitalization was THB 88.95 billion and trading volume reached 50,085,447 shares on that date.