0310 GMT - CP Axtra's 3Q earnings are expected to disappoint on weaker-than-anticipated gross margin at its Lotus's retail business, Thanachart Securities' Phannarai Tiyapittayarut says, but noting that this is unlikely to be a trend. The operator of retailer and wholesale businesses in Thailand will probably benefit from the government's 'half-half plus co-payment' program and tourism stimulus in 4Q, the analyst says. The brokerage forecasts CP Axtra's EPS growth at 15% and 12% in 2026 and 2027, respectively, due to drivers including store expansion and profit contribution from food importer Lucky Frozen in Malaysia. Thanachart Securities maintains the stock's buy rating, but trims the target price to THB25.00 from THB26.00 to reflect valuation base year of 2026. Shares last closed at THB21.40. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
October 21, 2025 23:10 ET (03:10 GMT)
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