The share price of Sabuy Technology Public Company Limited (SET: SABUY) rose THB2.00/share or 6.20% to THB34.25/share as of 12.30 local time in Thailand, with a trading value of THB295 million.
SABUY on Wednesday announced its 2022 Business Plan under “SABUYVERSE The Next Visionary” Event. Firm plans to build SABUYVERSE ecosystem covering 7 Conveniences and 7 Smarts via 7 Rising Stars Strategy. SABUY sets a target of 100% revenue increase with over THB5,000 million investment budget.
Bualuang Securities (BLS) has given a “BUY” recommendation on SABUY with a target price at THB42.00/share.
BLS cited SABUY’s management business plan that there are still more businesses not in BLS’ estimates such as convenient stores, EV chargers, digital assets, while the management expects revenue to grow 100%, higher from the previous estimate of 80%.
BLS expected the new investment of SABUY to support the bottom line at THB800-1,000 million in 2022, which is higher than the previous estimate of THB606 million. Also, net profit in 2023 is revised to THB1,200-1,500 million from the previous estimate of THB909 million.
The securities company stated that there is a possibility for SABUY to be listed in SET100 from its fundamentals and if the share price surges to THB50.00 per share, SABUY could be listed in SET50.
