UOB Kay Hian keeps Buy rating for Central Pattana stock

Published on 10/20/2026 at 03:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

UOB Kay Hian kept a Buy rating on October 5, 2026 with a THB 80.00 target. Central Pattana stock posted THB 4.75 billion profit in Q2 2026.

Expansion and earnings

UOB Kay Hian issued its view on October 5, 2026 with a THB 80.00 target.
Core earnings were forecast to increase 10.00-15.00 percent in the third quarter of 2026.
Central Pattana reported THB 12.63 billion revenue and THB 4.75 billion profit for the second quarter of 2026.

CPN, TH0481B10Z00, Illustration mit AI erstellt.

Central Pattana (TH0481B10Z00) reported THB 12.63 billion in revenue and THB 4.75 billion in profit for the second quarter of 2026, according to Yahoo Finance. The latest analyst view centers on the company's expansion in Khon Kaen and its rental business.

Analyst target stays at THB 80

On October 5, 2026, UOB Kay Hian maintained a Buy rating and a THB 80.00 target for Central Pattana. The report said core earnings could increase 10.00-15.00 percent year over year in the third quarter of 2026, supported mainly by rental income.

UOB Kay Hian also kept its 2026 earnings growth forecast at 15.00 percent despite flooding risks in Bangkok. Its research focused on Central Khon Kaen Campus, which started operations in May 2026 with 62,000 square meters of gross building area and 20,000 square meters of net leasable area.

What supports the next earnings case?

The Khon Kaen project gives the forecast a concrete operating test. UOB Kay Hian said traffic at the existing Central Khon Kaen mall recovered to 1.00 percent below its pre-opening level after an initial two-month decline, suggesting limited cannibalization between the two sites.

Three milestones shape the story

On August 14, 2026, Central Pattana's second-quarter financial release was listed with THB 12.63 billion of revenue and THB 4.75 billion of profit by TradingView. On September 30, 2026, Bangkok Post reported that CPN formed an exclusive Weixin Pay alliance covering eight Central malls. On October 5, 2026, UOB Kay Hian set out its THB 80.00 target and 10.00-15.00 percent third-quarter core earnings outlook.

SET valuation and operating scale

Central Pattana's latest quoted market value was THB 278.3 billion on October 19, 2026. Its SET quote stood at THB 62.00 at 4:36 p.m. ICT on October 19, 2026, while the 52-week range was THB 49.00 to THB 70.50. The market value places the analyst target THB 18.00 above the latest quoted share price.

For investors, the central question is whether new mixed-use projects can add rental income without materially weakening established malls. The Khon Kaen traffic data and the 2026 earnings forecast provide the clearest measurable markers before the next reported quarter.