WHA Corp. is likely to structurally benefit from the boom in data-center investments in Thailand, CGS International's Pornthipa Rayabsangduan says in a note. This investment surge should drive a new wave of industrial land demand from so-called hyperscalers, which would bode well for the Thai industrial and logistics property developer, the analyst says. She expects data-center-related presales to account for about half of WHA's total presales for the year, rising from 40% in 2025. A new water contract from a U.S. hyperscaler could drive long-term utilities income, she adds. The analyst raises her 2026-2028 earnings per share projections by 0.7%-2.4%. CGSI lifts its target price to 5.70 baht from4.96 baht and maintains an add rating. Shares climb 2.0% to 5.00 baht. (megan.cheah@wsj.com)
WHA Corp. Likely to Benefit From Thailand's Data-Center Boom — Market Talk
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