The share price of Minor International Public Company Limited (SET: MINT) rose 4% in the morning session on April 1, 2026, following a month of poor performance due to concerns over the Middle East unrest that weighed on global equities in March. MINT lost 17% in March, falling from THB 26 at the end of February to THB 21.60 per share.
Pi Securities gave a ‘Buy’ recommendation on MINT in mid-March, with a price target of THB 32.50 per share, noting that MINT’s 2026 earnings are expected to rise, driven largely by plans to launch 50 new hotels, primarily applying an asset-light strategy. The company also benefits from higher average daily rates (ADR), lower interest expenses compared to the previous year, and initiatives to establish a real estate investment trust (REIT).
Meanwhile, Krungthai XSpring Securities projects that MINT’s operational performance in the next two years will see a compound annual growth rate (CAGR) of around 10%, underpinned by an expanding hotel network and continued focus on efficient cost management.
Additionally, MINT is currently exploring REITs with assets valued at no less than $1 billion, aimed at refinancing existing debt and supporting further business expansion. The analyst assigns a fair value estimate for MINT at THB 25.50 per share.
