CPN stock keeps Outperform rating and THB 85 target under review

Published on 09/29/2026 at 19:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

InnovestX keeps a mid-2027 target of THB 85 and forecasts 2026 core profit of THB 18.3 billion. CPN had a THB 280.5 billion market cap on September 29, 2026.

CPN, TH0168010004, Illustration mit AI erstellt.

Central Pattana stock (ISIN TH0168010004) carried a THB 85.00 mid-2027 target from InnovestX on September 14, 2026, while the research house retained its Outperform rating. The latest market snapshot put Central Pattana at THB 62.50 on the Stock Exchange of Thailand on September 29, 2026 at 4:37 p.m. ICT.

InnovestX sees profit growth

According to InnovestX on September 14, 2026, 2026 core profit is forecast at THB 18.3 billion, up 9.6 percent year over year. That estimate gives the earnings story a measurable base, rather than relying only on a valuation argument.

The same research update says first-half 2026 core profit represented 52 percent of the full-year forecast. InnovestX also expects third-quarter 2026 core earnings to grow both year over year and quarter over quarter, with July shopping mall traffic forecast to rise 4 percent year over year and tenant sales to increase 8 percent.

Expansion adds a second growth track

InnovestX identifies Vietnam as a long-term expansion opportunity for Central Pattana, alongside further Thai mall development and the Rangsit township project. The Rangsit development covers a 750-rai land plot and is planned in phases over 10 to 20 years, with commercial development leading the first phase.

The research case also carries a clear counterweight. InnovestX lists weak domestic consumption as a key concern and identifies climate adaptation, mitigation costs and possible physical effects on malls as ESG risks. For investors, the important balance is a 9.6 percent 2026 core-profit forecast against those operating risks.

Market value and earnings date

Central Pattana had a market capitalization of THB 280.5 billion and a 52-week range of THB 49.00 to THB 70.50 on September 29, 2026. Its THB 62.50 quote stood 11.35 percent below the 52-week high, leaving the market value below the yearly peak while the analyst target remained higher.

The Securities and Exchange Commission filing page lists Central Pattana's consolidated second-quarter 2026 financial statements for the period ended June 30, 2026, as part of the company's current reporting record. The next earnings release is listed for November 19, 2026.

Central Pattana stock stays data led

Central Pattana stock combines a quantified earnings forecast, a THB 85.00 target and a broad development pipeline. The September 29, 2026 market snapshot showed 12,175,693 shares traded, while the Stock Exchange of Thailand remains the company's primary venue.