On Thursday, the share price of Dusit Thani Public Company Limited (SET: DUSIT) at the end of the morning session was at THB 11.60, a THB 2.10 or 22.11% increase with a total trading value of THB 62.67 million.
A day prior, Acting Chairman Chanin Donavanik of DUSIT held a conference addressing the company’s Board of Director push to remove him from the position. Many have speculated the move as an attempt to replace Chanin with members from Central Pattana Public Company Limited (SET: CPN), which has interest in the company. CPN later reaffirmed its transparency in its shareholding in DUSIT with focus on supporting the company growth.
Liberator Securities has released an analysis on DUSIT, highlighting that the ongoing shareholder dispute is unlikely to alter the company’s operational trajectory. The research team believes management initiatives and the business plan will proceed as planned. Significant yields are expected to be realized in 2026, with net profits projected at THB 2.9 billion driven by condominium transfers and a recovering tourism sector.
The securities firm maintains a “Buy,” as DUSIT offers an attractive investment opportunity for holding over a one-year horizon. The preliminary target price for next year is set at THB 14.75.
The research team further notes that DUSIT’s performance has already passed this year’s lowest point in 2Q25. The latter half of the year is expected to mark a turnaround, supported by seasonal tourism upticks and the assumption that 10% of Dusit Central Park condominium units will be transferred in 2025.
This year’s fair value, based on P/BV, faces only limited impact. However, the profit estimate for this year has been revised down by 75.1% to only THB 35 million, attributing the decline to a reduction in tourist numbers.
