บทวิเคราะห์ (Research)

Maintain POSITIVE sector view We maintain a POSITIVE view on Thai healthcare. While there are some challenges this year, we believe the sector’s valuation at 22x FY25E P/E is attractive and already priced in the risks. We expect sector earnings to grow by 7.1% in FY24-26E, slightly exceeding the 5.9% growth seen in FY17- 19E. Additionally, we anticipate sector ROE to expand to 17.4% in FY26E, surpassing pre-Covid-19 levels of 14.0%. Our Top Pick remains PR9 (TP THB32) for its brightest long-term growth outlook.