CPF Brokers Stick With Buy Amidst Weakened Meat Prices

Thai meat and poultry producer Charoen Pokphand Foods Public Company Limited (SET: CPF) reported a second-quarter 2026 net profit of THB 4.08 billion, down 61% year-on-year and 16% quarter-on-quarter.

The decline was primarily due to weak swine and broiler prices across Thailand, Vietnam, and China, as well as higher feed costs, particularly for corn, which spiked to around THB 11.7-12.8/kg during the quarter.

However, despite the weak second-quarter results, four brokerage houses covering the stock, Beyond Securities, FSSIA (Finansia), InnovestX, and Asia Plus Securities, all maintain 'Buy' recommendations with target prices ranging from THB 24.00 to THB 27.00.