IT City Public Company Limited

Kasikorn Securities stated that IT City Public Company Limited, or IT, expects third-quarter 2026 sales to grow both year-on-year and quarter-on-quarter, driven by strong smartphone and tablet sales as well as the IT product replacement cycle, especially PCs and notebooks. Same-store sales growth in July and August was positive at a double-digit rate and is expected to continue through September. Under the assumption of 20% year-on-year sales growth and a gross profit margin of 18.9%, the research team expects third-quarter 2026 profit of 105 million baht, up 167% year-on-year but down 3% quarter-on-quarter, bringing first-nine-month 2026 profit to 306 million baht, up 161% year-on-year. The research team maintains a Buy recommendation with a mid-2027 target price of 10.83 baht, compared with the current market price of 7.05 baht, which reflects a 2026 price-to-earnings ratio of only 6.9 times, below the gadget sector average of about 10 times, and expects a 2026 dividend yield of 5.8%.