ADVANC-GULF-CPALL: Top 5 SET50 Stocks Recommended by Brokers
Investment Analysis Summary – 2026
Table of Contents
Mr. Sombat Narawutthichai, secretary-general of the Investment Analysts Association, revealed analyst recommendations for stocks.
Recommended Stocks (5+ Agency Consensus)
| Stock | Rationale | Expected Dividend (per year) |
|---|---|---|
| ADVANC | Profits expected to grow 11% in 2026 to 49 billion baht due to reduced competition. | 5% |
| CPALL | Benefits from election declaration,increased consumer spending,and extended alcohol sales hours. | N/A |
| GULF | Growing operating performance and regular dividends. | N/A |
| KTB | Strong profits, well-controlled credit quality, and reasonable share value. | N/A |
| MTC | Positive results from falling interest rates, outstanding operating results, accelerating loans, and good NPL management. | N/A |
Survey Assumptions (2026)
- Average Crude Oil Price: 64 USD per barrel
- GDP Growth: 1.4% – 2% (Average: 1.67%, down from 1.9% in Oct ’25)
- Risk Free Rate: 1.82%
- Stock Market Risk Premium: 7.85%
investment Factors (Positive & Negative)
Positive Factors (Percentage of Respondents):
- Domestic Interest Rates: 91.3%
- US interest Rates: 82.6%
- Domestic Political Factors: 60.9%
Negative Factors (Percentage of Respondents):
- Domestic Economy: 60.9%
- International Political Factors: 56.5%
- Global Economic Factors: 50%
Key Factors to Watch (Q1 2026)
- Domestic Political Factors (election Results & New Government Formation)
- Slowdown of the US Economy
BoT Policy Interest Rate Forecast (End of 2026)
- Decrease to 1%: 72.73%
- Decrease to 0.75%: 13.64%
- Stable at 1.25%: Remainder
- 2025: 86.13 baht
- 2026: 91.17 baht
The overall outlook for Thai stocks is positive.