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Investing.com - Macquarie has initiated coverage on Delta Electronics Thailand PCL (BANGKOK:DELTA) with an Outperform rating and a price target of THB210.00.
The research firm views Delta as the only direct artificial intelligence proxy in Thailand, with 55% of its revenue coming from DC power and liquid cooling solutions.
Macquarie expects demand for DC power to double between 2024 and 2028, with the server cooling industry poised for exponential growth and an inflection point in 2025.
The firm forecasts 17% revenue CAGR and 21% profit CAGR for Delta Electronics Thailand over fiscal years 2024-2027, driven by the company’s higher margin power solutions and liquid cooling revenue.
Macquarie believes Delta’s "scarcity value will persist" in the Thai market due to its unique positioning in the growing AI infrastructure space.
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