Kasikorn Securities (KS) expressed a slightly positive view following the 3Q25 Opportunity Day updates from Com7 Public Company Limited (SET: COM7). The company’s management reiterated expectations for peak seasonality in both revenue and profit during the fourth quarter of 2025.
COM7 maintained the end-2025 target for its U-fund portfolio at THB 4 billion, with a U-Phone (U-fund on application) launch scheduled for 1Q26. The coverage of U-fund is expected to expand by an additional 500 branches in 2Q26, aiming to reach 7,000 branches by the end of 2026.
For the electric taxi (EV Taxi) segment, the company maintained its year-end 2025 target of 2,000 vehicles and projects 2,600 vehicles by the end of 2026, having rolled out 1,136 EV taxis in 3Q25.
Furthermore, COM7 also announced a new mobile care partnership with TRUE and ADVICE and plans to expand insurance coverage to include IT accessories and notebooks in the future.
Management stated that smartphone sales would rebound strongly in 4Q25, mainly driven by the launch of the iPhone 17, key Android ‘Hero’ products such as Samsung, Oppo, and Vivo, as well as a boost from accessories and U-fund offerings during the year-end quarter.
On the topic of the planned sale of 15 million shares to over 100 executives, the main purpose is to reward management performance. The sale price, to be set on November 28, will be the average trading price from November 7–27, but not lower than 90% of the average price. Executives will be permitted to sell up to 50% of the shares within seven days and the remaining shares within three months.
KS maintains its ‘Buy’ recommendation for COM7 with an unchanged target price of THB 27.48 per share.
The analyst noted that a particularly attractive entry point could be the THB 20 level, should the share price react negatively to the executive share sale program. At this level, the 2025 PER would stand at 12.6x, about 2 standard deviations below the average.
