Central Retail, TH0942010008

Dao Securities raises target to THB 36 for Central Retail stock

Published on 10/20/2026 at 00:11 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Dao Securities lifted its target from THB 33.00 to THB 36.00 on October 14, 2026. Central Retail stock faces third-quarter profit of THB 1.70 billion.

Retail strategy

Dao Securities lifted its Central Retail target from THB 33.00 to THB 36.00 on October 14, 2026.
Central Retail's online sales grew 24 percent in the second quarter of 2026 and represented 11 percent of total sales.
Central Retail had a market capitalization of THB 190.0 billion as of October 19, 2026.

Central Retail, TH0942010008, Illustration mit AI erstellt.

Central Retail (ISIN TH0942010008) is tied to a THB 36.00 target after Dao Securities raised its 2027 target from THB 33.00 on October 14, 2026. According to RYT9, the brokerage expects third-quarter net profit of THB 1.70 billion, up 32 percent year over year.

Target rise rests on earnings

The forecast also puts third-quarter revenue at THB 59.00 billion, an increase of 1 percent year over year and 6 percent from the second quarter. Dao Securities expects selling, general and administrative costs to fall to 29.40 percent of sales from 30.40 percent a year earlier, while its normal-profit estimates for 2026 and 2027 stand at THB 9.40 billion and THB 9.90 billion.

The target revision gives the stock a clear earnings test. The same assessment links the potential improvement to cost control, product mix and the integration of MaxValu stores into the Tops network, but the third-quarter profit estimate remains below the second-quarter figure on a quarter-on-quarter basis.

Retail scale reaches 3,834 stores

Central Retail's operating base supports the growth case. The company's Investor FAQ states that it operated 3,834 stores across Thailand and Vietnam as of June 30, 2026. Online sales grew 24 percent in the second quarter of 2026 and accounted for 11 percent of total sales.

Three milestones shape expansion

On August 7, 2026, Central Food Retail signed an agreement to acquire all 30 MaxValu stores in Thailand, with the transaction later described by The Nation as a conversion of the branches to Tops. On October 6, 2026, Central Retail announced more than VND 602.50 billion for a GO! Pleiku shopping mall in Vietnam, according to The Investor. On October 14, 2026, Dao Securities raised the target to THB 36.00 from THB 33.00, as reported by RYT9.

Next results date matters

Central Retail is scheduled to report third-quarter 2026 results on November 18, 2026, according to Simply Wall St. That release should show whether the projected cost ratio and food-sales recovery support the higher target.

Thai market valuation sets the frame

Central Retail's latest quoted home-market value was last at THB 31.50 on the Stock Exchange of Thailand on October 19, 2026 at 4:36 p.m. ICT, after the SET session. Its market capitalization was THB 190.0 billion and its 52-week range was THB 16.50 to THB 33.00 as of October 19, 2026.