At the end of the morning session on Friday, the share price of CH. Karnchang Public Company Limited (SET: CK) rose by 0.58% or THB 0.10 to THB 17.20, with a trading value of THB 100.57 million.
Land and Houses Securities (LHS) holds a positive outlook regarding the re-rating of the price-to-earnings (P/E) ratio for CK, following the return of political stability in Thailand. This renewed stability is anticipated to expedite the launch of government project auctions, particularly Public-Private Partnership (PPP) projects, over the next two to three years.
Although the brokerage forecasts a slight slowdown in net profit for the fiscal year 2026, the company is expected to benefit from the government’s recent measures to support state contractors.
These initiatives include easing contract conditions, adjusting the diesel price framework for new projects, and expediting payments for K-factor compensation. LHS gives a ‘Buy’ rating and maintains a strategic target price of THB 20.00 per share for CK, representing a 2026 P/E ratio of 15.3 times.
