Kiatnakin keeps Buy rating for Thai Union stock

Published on 10/07/2026 at 03:29 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Kiatnakin sees THB 1.27 billion profit in the third quarter. Thai Union stock has a THB 16.00 target and 4.00-6.00 percent growth guidance.

Thai Union, TH0450010R15, Illustration mit AI erstellt.

Thai Union (ISIN TH0450010R15) has a THB 16.00 target and a Buy rating from Kiatnakin Phatra Securities. According to Kaohoon International on October 5, 2026, the broker expects Thai Union to report third-quarter 2026 net profit of THB 1.27 billion, down 2.40 percent year over year and up 0.70 percent from the second quarter.

Profit outlook stays resilient

Kaohoon International reports that Kiatnakin expects Thai Union's 2026 revenue growth to remain within the company's 4.00-6.00 percent target. The broker also expects third-quarter gross margin at 20.30 percent, compared with full-year management guidance of 19.50-20.50 percent.

The forecast frames margin resilience as the key operating issue. Higher tuna and freight costs, along with one-off financial advisory expenses, remain pressure points, while two months of inventory could delay the effect of higher tuna prices until the fourth quarter.

SET valuation sets the context

Kiatnakin's analysis puts Thai Union's standalone business below 3.00 times estimated 2027 earnings and assigns a THB 16.00 target. The same analysis points to improved catch rates and easing tuna costs in the fourth quarter as potential support for earnings.

The Thai securities regulator lists Thai Union's reviewed consolidated second-quarter 2026 financial statement as of June 30, 2026, in its filing database at the Thai SEC. That period gives the market a recent reported base before the third-quarter estimate.

Thai Union stock stays within its range

Thai Union traded at THB 12.50 on the Stock Exchange of Thailand on October 6, 2026, while its 52-week range stood at THB 10.40 to THB 14.10. Its market capitalization was THB 48.20 billion on the same date, leaving the analyst target THB 3.50 above the latest SET quote.

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