KS Expects Livestock Group Profit to Surge 13.8% in 2027, Picks CPF and BTG as Top Picks

โดย Kaohoon·THCN·Read original
Summary · why it matters

Kasikorn Securities Public Company Limited, or KS, stated that its research division forecasts the combined normal profit of the livestock group, which comprises Betagro Public Company Limited, or BTG, Charoen Pokphand Foods Public Company Limited, or CPF, GFPT Public Company Limited, or GFPT, and Thai Foods Group Public Company Limited, or TFG, to reach 38.2 billion baht in 2027, up 13.8% from the same period a year earlier, even though sales are expected to grow by only 2.3%. The growth is supported by the group's gross profit margin, which is expected to rise to 16.2% from 15.8% in 2026. KS stated that the profit growth will come from a better spread between livestock prices and feed costs, an increase in operating leverage, expansion into downstream businesses, and an improved product mix, which is shifting the livestock group from a cyclical recovery toward more sustainable profit growth. For the Thai swine market, KS assumes a pig price of 70 baht per kilogram in 2027, while for China it assumes 12 yuan per kilogram, and it maintains its 2027 broiler price assumption at 42 baht per kilogram. It assumes corn and soybean meal prices in 2027 at 10.5 baht per kilogram and 16.5 baht per kilogram, respectively. KS maintains a neutral view on the livestock group and has selected CPF and BTG as its top picks, giving BTG a buy rating with a target price of 24.80 baht and CPF a buy rating with a target price of 26.00 baht.

Impact on assets 4

Consumer Staples▲ · 3 stocks
Betagro PCL
BTG
▲ PositiveCapitalrelevance

KS gives BTG a buy rating with a 24.80 baht target price as a top pick in the livestock group.

GFPT Public Company Limited
GFPT
± MixedCapitalrelevance

GFPT is included in KS's livestock group profit forecast but not selected as a top pick or individually rated.

Energy Transition & Power Demand▲ · 1 stocks
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