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Delta Electronics Thailand Gets Price Target Boost as AI Demand Powers 2026 Outlook
Affected tickers
Per-ticker News Sentiment Indicator
- DELTAanalyst_rating_change · positive · high
The brokerage raised its outlook for DELTA due to strong AI-related demand and increased earnings estimates for 2026.
- HANAanalyst_rating_change · negative · med
The report explicitly suggests switching investments away from Hana Microelectronics due to its "weaker earnings and uncertain outlooks" compared to its peer, Delta Electronics.
- KCEanalyst_rating_change · negative · med
The report suggests switching investments from KCE Electronics to DELTA, citing "weaker earnings and uncertain outlooks" for KCE Electronics.
- TOPother · neutral · high
The article focuses exclusively on Delta Electronics (DELTA) and does not contain any information regarding Thai Oil Public Company Limited (TOP).
- TTBother · neutral · high
The article discusses an analyst report regarding Delta Electronics (DELTA) and does not contain any material news or financial updates concerning TTB.
Article body
ttb Wealth Securities has reiterated its BUY recommendation on Delta Electronics (Thailand) Plc. (SET: DELTA), raising its 12-month target price to Bt420 per share from Bt350. This reflects an anticipated new product order and DELTA’s stronger-than-expected 1Q26 earnings. The new target price suggests an upside potential of 19%.
The brokerage increased its earnings estimates for DELTA by 11-15% per annum, citing expectations for a significant product order from an existing key customer in 4Q26. This involves a new generation of power supply management units for next-generation GPU platforms, which come with a higher price point and improved margins. DELTA also reported a 57% year-on-year and 10% quarter-on-quarter increase in USD sales in 1Q26, largely from rising AI-related orders. The company projects ongoing quarterly sales growth of over 10% into 2Q26, with a support by the scaling of new liquid-cooling products and production relocations from Delta Taiwan in 3Q26.
For 2Q26, ttb Wealth Securities forecasts 69% y-y and 15% q-q growth, while 3Q26 is expected to see 61% y-y and 17% q-q growth. This shift aligns with increasing AI-driven demand for higher-capacity power solutions. With over a 50% estimated market share (with its parent Delta Taiwan), DELTA is well-positioned in the power supply sector.
DELTA is named as the top electronics sector pick due to its strong earnings visibility and direct exposure to AI-related products. The report advocates switching investments from Hana Microelectronics and KCE Electronics to DELTA, noting weaker earnings and uncertain outlooks for the two peers.