บทวิเคราะห์ (Research)

We expect CKP to deliver robust Bt1.6b net profit for 3Q24F, surging 59% yoy and 22-fold qoq. This would be driven higher revenues, larger equity income, and favorable FX gain. Looking ahead, CKP is positioned for an earnings upcycle that would extend to 2025F buoyed by La Niña conditions and the improving situation at XPCL. Hence, we upgrade CKP to BUY (from Trading Buy) with a new TP of Bt5.2 (from Bt4.3, 2025F).