Finansia Syrus Securities (FSS) has issued a positive outlook on Carabao Group Public Company Limited (SET: CBG), signaling a clear return to growth for the beverage producer, with a third-quarter 2026 net profit anticipated at THB 792 million, representing an increase of 8% quarter-on-quarter and 29% year-on-year.
The brokerage also sees a new yearly high in profit during 4Q26, driven by the continued strength of the group’s alcoholic beverage distribution operations in Myanmar and robust growth in its Original Equipment Manufacturer (OEM) business.
Normalized profit forecasts have been revised upward by 11% to 19% for the period 2026–2028. The new projections include a year-on-year earnings growth of 3% for 2026 and 15% for 2027.
Meanwhile, there could be additional upside potential if CBG’s Loveza product performs stronger than anticipated, or if the company secures new OEM clients.
Given these, Finansia maintains a ‘Buy’ recommendation on CBG, with a revised target price of THB 74.00 for the year 2027.
