Airports of Thailand stock, airport infrastructure

UBS sets THB 75.00 target for Airports of Thailand stock

Published on 10/25/2026 at 01:58 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

UBS forecasts THB 29.0 billion in fiscal 2027 and THB 45.0 billion in fiscal 2031. Airports of Thailand stock has 31.00 percent upside.

Valuation and earnings path

UBS set a THB 75.00 target for AOT on October 21, 2026.
Net profit is forecast at THB 29.0 billion in fiscal 2027 and THB 45.0 billion in fiscal 2031.
AOT had a THB 853.6 billion market capitalization and a THB 39.25 to THB 67.25 52-week range on October 22, 2026.

Airports of Thailand stock, airport infrastructure, analyst target, UBS, SET, Illustration mit AI erstellt.

UBS set a THB 75.00 target for Airports of Thailand on October 21, 2026, arguing that better monetization of its existing airport network can support earnings without requiring a fully developed Suvarnabhumi hub. The assessment gives Airports of Thailand stock a fresh valuation reference as the company prepares for its next results.

UBS favors network monetization

According to Kaohoon International on October 22, 2026, UBS expects net profit to rise from THB 29.0 billion in fiscal 2027 to THB 45.0 billion in fiscal 2031. The forecast implies compound annual growth of 12.00 percent and is based on passenger service charges, landing and parking fees, operating efficiency and possible transit fees.

The valuation case does not depend on Suvarnabhumi becoming a full connecting hub. UBS highlighted the existing network instead, while the airport currently serves 151 destinations and transit and transfer passengers account for 8.00 percent of international passengers, according to the same report.

Three dated signals shape the case

AOT's latest reported earnings release dated August 13, 2026 showed revenue of THB 14.91 billion and earnings per share of THB 0.31, against a THB 14.74 billion revenue forecast and THB 0.24 earnings-per-share forecast, as reported by Investing.com. On October 14, 2026, AOT presented investors with plans involving new revenue sources, airport fee adjustments and development projects at a Singapore conference, according to Money and Banking. The October 21 UBS note was the third dated signal, assigning the THB 75.00 target and a 31.00 percent upside case.

What does the target mean for earnings?

The key test is whether higher regulated fees can offset weaker concession income and passenger pressure. UOB Kay Hian forecast fourth-quarter fiscal 2026 net profit of THB 5.6 billion, up 45.50 percent year over year and 26.50 percent quarter over quarter, while retaining a THB 85.00 target, according to its October 21, 2026 research note.

Next reporting date

Investing.com lists November 23, 2026 as AOT's next earnings date. That release should show whether the higher passenger service charge is translating into the profit trajectory used in the UBS valuation.

Thailand price stays dated

Airports of Thailand had a market capitalization of THB 853.6 billion and a 52-week range of THB 39.25 to THB 67.25 on October 22, 2026. The last home-market quote was THB 59.75 on that date, leaving the stock below the reported 52-week high while the analyst case rests on earnings growth rather than a single trading session.