Advanced Info Service Loses Bull on Premium Valuation, Capex Increase -- Market Talk

Dow Jones

02/05

0557 GMT - Advanced Info Service looks unattractive due to its premium valuation and increase in network capital expenditure, Maybank Securities (Thailand)'s Wasu Mattanapotchanart says in a research report. The Thai mobile operator's estimated 2026 price-to-earnings ratio of 22x is 20% higher than ASEAN telcos' average P/E ratio, the analyst says. The company has also increased its network capex budget from 11%-12% of total revenue in 2024-2025 to 15% in 2026-2028. The brokerage cuts its 2026-2027 free-cash-flow-to-firm forecasts for Advanced Info Service by 11%-13%. It lowers the stock's rating to hold from buy and the target price to THB358.00 from THB362.00. Shares are 1.6% lower at THB368.00. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

February 05, 2026 00:57 ET (05:57 GMT)

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The Thai mobile operator's estimated 2026 price-to-earnings ratio of 22x is 20% higher than ASEAN telcos' average P/E ratio, the analyst says. The company has also increased its network capex budget from 11%-12% of total revenue in 2024-2025 to 15% in 2026-2028. The brokerage cuts its 2026-2027 free-cash-flow-to-firm forecasts for Advanced Info Service by 11%-13%. It lowers the stock's rating to hold from buy and the target price to THB358.00 from THB362.00. Shares are 1.6% lower at THB368.00. 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The Thai mobile operator's estimated 2026 price-to-earnings ratio of 22x is 20% higher than ASEAN telcos' average P/E ratio, the analyst says. The company has also increased its network capex budget from 11%-12% of total revenue in 2024-2025 to 15% in 2026-2028. The brokerage cuts its 2026-2027 free-cash-flow-to-firm forecasts for Advanced Info Service by 11%-13%. It lowers the stock's rating to hold from buy and the target price to THB358.00 from THB362.00. Shares are 1.6% lower at THB368.00. (ronnie.harui@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 05, 2026 00:57 ET (05:57 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00B66KJ199.SGD","symbol_name":"LEGG MASON ROYCE US SMALL CAP OPPORTUNITY  \" A\" (SGD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2609799347","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2609799347","pubTimestamp":1770271020,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0557 GMT - Advanced Info Service looks unattractive due to its premium valuation and increase in network capital expenditure, Maybank Securities 's Wasu Mattanapotchanart says in a research report. The Thai mobile operator's estimated 2026 price-to-earnings ratio of 22x is 20% higher than ASEAN telcos' average P/E ratio, the analyst says. The company has also increased its network capex budget from 11%-12% of total revenue in 2024-2025 to 15% in 2026-2028. The brokerage cuts its 2026-2027 free-cash-flow-to-firm forecasts for Advanced Info Service by 11%-13%. It lowers the stock's rating to hold from buy and the target price to THB358.00 from THB362.00. Shares are 1.6% lower at THB368.00. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00B66KJ199.SGD":"LEGG MASON ROYCE US SMALL CAP OPPORTUNITY  \" A\" (SGD) ACC","IE0031619046.USD":"LEGG MASON ROYCE US SMALL CAP OPPORTUNITY \"A\" (USD) INC","LU1815336091.USD":"THREADNEEDLE (LUX) GLOBAL SMALLER COMPANIES \"AUP\" (USD) INC","LU0757428866.USD":"THREADNEEDLE (LUX) GLOBAL SMALLER COMPANIES \"AE\" (USD) ACC","IE00B7SZL793.SGD":"Legg Mason Royce - US Small Cap Opportunity A Acc SGD-H","AEIS":"先进能源工业公司","IE00B19Z4B17.USD":"LEGG MASON ROYCE US SMALL CAP OPPORTUNITY \"A\" (USD) ACC","BK4157":"电子设备和仪器"},"translate_title":"高级信息服务因溢价估值和资本支出增加而失去牛市——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AEIS":1.5},"content_text":"0557 GMT - Advanced Info Service looks unattractive due to its premium valuation and increase in network capital expenditure, Maybank Securities (Thailand)'s Wasu Mattanapotchanart says in a research report. The Thai mobile operator's estimated 2026 price-to-earnings ratio of 22x is 20% higher than ASEAN telcos' average P/E ratio, the analyst says. The company has also increased its network capex budget from 11%-12% of total revenue in 2024-2025 to 15% in 2026-2028. The brokerage cuts its 2026-2027 free-cash-flow-to-firm forecasts for Advanced Info Service by 11%-13%. It lowers the stock's rating to hold from buy and the target price to THB358.00 from THB362.00. Shares are 1.6% lower at THB368.00. (ronnie.harui@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 05, 2026 00:57 ET (05:57 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}