On Friday at 10:43 AM (Bangkok time), the share price of WHA Utilities and Power Public Company Limited (SET: WHAUP) gained 2.75% or THB 0.15 to THB 5.60, with a trading value of THB 17.80 million.
Land and Houses Securities (LHS) has issued a ‘Buy’ recommendation for WHAUP, anticipating the company’s normalized profit for 2Q26 to show growth both quarter-on-quarter and year-on-year.
This positive outlook is supported by the return to full operation of the Gheco-1 power plant throughout the quarter. Meanwhile, revenues from the water business are expected to continue their upward trend, driven by increases in both sales volume and capacity charges.
In the longer term, the outlook remains positive, underpinned by the ongoing investment wave in Thailand’s data center industry. This is expected to further drive demand for water and support the continued growth in revenue for WHAUP’s water business.
The strategic target price has been set at THB 5.80 per share, which corresponds to a 2026 price-to-earnings (P/E) ratio of 15x.
