บทวิเคราะห์ (Research)

Fragile economic conditions could result in weak consumption. Though we discounted CPALL’s PER further and arrived at a new end-2025F target price of Bt58.00, from Bt64.00, there is still 20% upside to our target from the last closing price. Meanwhile, the company’s share repurchase program should offer some cushion. We rate CPALL Outperform.