Maybank Securities (Thailand) has given a bullish outlook for Minor International Public Company Limited (SET: MINT) following a positive sign to a resolution in the Middle East war, seeing the stock as one of its laggard play with a strategic target price at THB 30.50 per share.
Maybank noted that MINT has delivered an MTD return of -15.4%, compared to the SET’s -7.7% over the same period. However, downward pressure from the war has eased after Pakistan signaled its willingness to act as a mediator in negotiations between the U.S. and Iran.
At the current price, MINT is trading at around 12.6x 2026E P/E, compared to the sector average of 18x, despite its 2026E EPS growth projected at 17%, which is higher than the sector average of 16%.
