0638 GMT - CP Axtra faces earnings hit on some headwinds, CGS International's Chaiyatorn Sricharoen says in a research report. In 2Q, the temporary boost from the Thai company's stockpiling could fade and consumers might turn more cautious about higher-margin discretionary spending, the analyst says. Also, rising logistics costs could add further pressure on CP Axtra, particularly for its Makro wholesale business. Moreover, there's potential downside risks from the company's Happitat shopping mall, for which the opening timeline remains unclear. The brokerage cuts its net-profit forecasts for CP Axtra by 7.2% for 2026, 4.4% for 2027 and 5.1% for 2028. It lowers the stock's rating to reduce from hold and the target price to 15.40 baht from 16.20 baht. Shares are 1.9% higher at 16.00 baht. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
April 08, 2026 02:38 ET (06:38 GMT)
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