On Tuesday at 11:04 AM (Bangkok time), the share price of The Erawan Group Public Company Limited (SET: ERW) gained by 2.17% or THB 0.06 to THB 2.82, with a trading value of THB 27.54 million.
Maybank Securities (Thailand) has highlighted ERW as its daily stock pick with a strategic target price of THB 3.60 per share. The brokerage noted that Chinese airline seat capacity to Thailand surged by 19% year-on-year in 2026, marking a robust recovery from the low base in the previous year.
Among the tourism-related companies under its coverage, ERW stands out for having the highest exposure to Chinese tourists, who account for 13% of total revenue.
According to Maybank, ERW is expected to report a first-quarter 2026 profit of THB 402 million, representing a 16% increase year-on-year and a 3% rise quarter-on-quarter. This growth was supported by both hotel expansion and a rebound in Revenue Per Available Room (RevPAR) within Thailand.
Moreover, the company is currently trading at a price-to-earnings ratio of just 14x the estimated 2026 earnings, which is considerably lower than the sector average of 19x.
