Kasikorn Securities (KS) shared the latest insights from the earnings call (Opportunity Day) with Praram 9 Hospital Public Company Limited (SET: PR9). Despite a challenging economic backdrop, the company’s management remains steadfast in its revenue growth projections, targeting a low to medium single-digit increase for 2026.
PR9 acknowledged that Thailand’s hospital sector continues to face significant challenges due to ongoing economic weakness. To navigate these headwinds, The company has maintained its strategy of competitive pricing, which has received positive feedback from patients and is expected to help bolster demand throughout the year.
For the second quarter of 2026, PR9 anticipates continued year-on-year revenue growth. However, the expansion efforts into the Middle Eastern patient market have been delayed due to ongoing regional conflicts, affecting plans for international market diversification.
On the operational front, PR9 has recently invested in new medical equipment, a move which is expected to contribute positively to future revenue streams.
Additionally, the company is actively working to reduce marketing and sales expenses by leveraging advanced technology. This cost-saving initiative, which has already resulted in declining expenses over the past two to three quarters, is projected to continue delivering benefits beyond the first quarter of 2026.
During the earnings call, the tone from management was neutral, reflecting the anticipated softness in revenue growth— a factor that Kasikorn had already incorporated into its forecasts.
Nevertheless, KS maintains a “Buy” recommendation on PR9 shares, with a target price of THB 19.4, signaling confidence in the company’s resilient strategy and long-term growth prospects. Further details are expected to be discussed in the analyst meeting.
