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Investing.com - UBS downgraded Kasikornbank PCL (BKK:BK:KBANK) (OTC:KPCPY), currently valued at $11.59 billion, from Buy to Neutral and lowered its price target to THB152.00 from THB167.00.
The downgrade follows Kasikornbank’s outperformance against the SETBANK Index by 4% and the SET Index by 16% year-to-date, with the stock delivering a total return of 22% YTD and trading near its 52-week high. According to InvestingPro, the bank maintains a GOOD financial health score, though UBS indicates this performance has created a less attractive risk/reward profile.
UBS cut its 2026-2027 earnings per share estimates by 5-9% to account for potential impacts from US tariffs at 25-35%, despite acknowledging that Kasikornbank’s first-half 2025 results secured sustainable year-over-year EPS growth for 2025.
The investment bank cited concerns about lower dividend yields if US tariffs drive down earnings in 2026, along with uncertainty regarding rate cuts and industry consolidation following the selection of a new Bank of Thailand governor.
Kasikornbank, one of Thailand’s largest financial institutions, trades on the Stock Exchange of Thailand and has American Depositary Receipts available over-the-counter in the United States.
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