The Erawan Group Public Company Limited (SET: ERW) has been recommended as a “Buy” by Finansia Syrus Securities, with a target price set at THB 3.76. The company is expected to report robust earnings in the first quarter of 2026, buoyed by the high tourism season. For the entire year, ERW is projected to benefit from a strong rebound in the number of tourists, particularly driven by a recovery in the Chinese tourism market.
According to research, the ongoing conflict in the Middle East is anticipated to have a limited impact on ERW’s performance, as revenue from this region accounts for just 4% of the company’s total income. Moreover, with geopolitical tensions showing signs of easing, investor sentiment toward the tourism sector is likely to improve in the near term.
ERW’s valuation remains attractive, trading at a price-to-earnings ratio (PER) of only 12 times, which is considered relatively low compared to peers. Key support levels are identified at THB 2.34–2.30, while resistance is expected at THB 2.60 and THB 2.74.
