On Thursday at 2:05 PM (Bangkok time), the share price of Ichitan Group Public Company Limited (SET: ICHI) rose by 1.37% or THB 0.20 to THB 14.80, with a trading value of THB 91.76 million.
Land and Houses Securities (LHS) expects ICHI to record a quarter-on-quarter increase in normalized profit in 2Q26, with year-on-year stability. This anticipated growth is supported by a seasonal recovery in sales during the summer and the Songkran festival, along with continued strong sales of alkaline water products.
Looking ahead to the second half of 2026, further upside is expected from the government’s ‘Thai Chuay Thai Plus’ initiative, which aims to stimulate domestic purchasing power, as well as the onset of El Niño. The warmer temperatures associated with El Niño are likely to drive increased demand for beverages.
Additionally, ICHI remains attractive due to its compelling dividend yield, estimated at approximately 7%.
LHS maintains a ‘Buy’ recommendation on ICHI, with a strategic target price of THB 15.50 per share, equivalent to a projected 2026 price-to-earnings ratio of 16.7x.
