On Friday at 10:58 AM (Bangkok time), the share price of Central Pattana Public Company Limited (SET: CPN) rose by 1.90% or THB 1.00 to THB 53.50, with a trading value of THB 142.98 million.
Pi Securities reiterated a ‘Buy’ recommendation on CPN, maintaining a target price of THB 80 per share. The brokerage firm remains optimistic about CPN’s long-term growth prospects, expecting continued benefits from the company’s ongoing expansion and the opening of new projects.
In the near term, the analyst believes the impact from the mourning period will be limited, as activities can still proceed, albeit at a smaller scale. This could lead to reduced marketing expenses for CPN as well.
For the third quarter of 2025, the broker forecasts CPN to post a net profit of THB 5,046 million, representing a 22% increase year-on-year and a 17% rise compared to the previous quarter. Part of this growth is attributed to special items totaling more than THB 600 million.
Core revenue is expected to reach THB 12,213 million, roughly unchanged from the same period last year, as rental income continues to grow, while revenue from real estate and hotels sees a slight decline. On a quarterly basis, total revenue is projected to rise by 5%, supported by the recovery of the real estate business.
