On Wednesday, the share prices of Ichitan Group Public Company Limited (SET: ICHI) at the time of 11:57 a.m. was at THB 13, a THB 0.2 or 1.56% increase with a total trading value of THB 67 million.
Meanwhile, the share prices of Osotspa Public Company Limited (SET: OSP) at the same time was at THB 15.20, a THB 0.1 or 0.66% increase with a total trading value of THB 67.41 million.
KGI Securities (Thailand) revealed to “Kaohoon” that during the summer, beverage stocks often receive special attention due to their seasonal nature, with higher sales driven by increased demand for thirst-quenching drinks.
Overall in the market, the securities firm believed that beverage stock prices have already reflected the negative impact of the Middle East war to a considerable extent. If the situation does not worsen further, the downside risk is expected to be limited, while stock prices have a chance to recover.
ICHI was selected as the top pick in the beverage sector for 2Q26, with a “Buy” recommendation and a target price of THB 17.70 per share. Historically, ICHI has significantly benefited during extremely hot periods, as its product range effectively meets thirst-quenching needs, covering both ready-to-drink tea and non-tea segments, such as Yen Yen.
In 2026, the weather is expected to be hotter and rainfall reduced following the onset of El Niño in the second half of the year, which will positively impact beverage sales more than in the previous year. For cost management, ICHI has already locked in raw material costs for the first half of 2026, limiting the impact from volatile raw material prices. Coupled with growth from a low base, earnings are expected to register strong growth.
Additionally, OSP is a secondary interesting choice, with a “Buy” recommendation and a target price of THB 20 per share. Currently, OSP’s valuation is relatively low, but the dividend yield offered is high at over 7%.
OSP continues to experience solid growth from both domestic and international sales in the first half of 2026 and benefits from low raw material costs. However, if Myanmar’s domestic policies allow for the transfer of funds out of the country, OSP is likely to resume high dividend payouts at previous levels.
Meanwhile, Sappe Public Company Limited (SET: SAPPE) may be affected by an order slowdown in the Middle East, which accounts for about 10% of total sales. As for Carabao Group Public Company Limited (SET: CBG), the recommendation is only “Hold”, with a target price of THB 51 per share.
