The share price of COM7 Public Company Limited (SET: COM7) at the time of 11:00 a.m was at THB 22.50, or a 4.17% increase.
KGI Securities (Thailand) stated that COM7’s 4Q24 performance has surpassed expectations after reporting a 53% or one billion baht gain in net profit compared to the same period last year, and 45% growth from the previous quarter. Income from sales was boosted by 17.30% or THB 23.4 billion compared to the same period a year ago, and strengthened 30.50% from the earlier quarter.
KGI analyst has raised its profit estimate by 8-10%, and has increased the target price for 2025 to THB 25.00 from 23.00. Furthermore, the securities company also upgraded its recommendation from “Neutral” to “Outperform” due to 16% upside in the new target price.
COM7 reported a net profit in 2024 of Baht 3,307.16 million, an increase of Baht 449.99 million or 15.75% compared to the previous year. The increase in net profit was due to revenue gain from strong smartphone sales and demands across all operating systems, as well as government stimulus measures.
