AOT gained 4% in Thursday’s morning session, as the government reiterated that there will be no lockdown and that the country will remain open to foreign tourists.
The share price of Airports of Thailand Public Company Limited (SET: AOT) rose THB2.50/share or 3.98% to THB65.25/share, with a trading value of THB2,929 million.
KGI (Thailand) Securities recommends “BUY” on AOT with a target price of THB73.00 per share, citing a benefit from the government reiterating that no further lockdown will be imposed despite the continual surge in COVID-19 infections and that the country will continue open to foreign tourists.
Although the COVID-19 omicron variant is spreading rapidly, it does not seem to have a significant effect on AOT’s operations. Additionally, AOT will cease assisting measures for tenants in the airport in March 2023, at which point AOT’s operating results are expected to return to profit.
It is estimated that AOT will turn back to have a net profit of THB12,754 million in 2023.
