ADVANC gained 5% at the opening on Monday, the analyst believes that the TRUE-DTAC merger deal will result in weak competition in the telecom market.
As of 12:00 p.m. local time in Thailand, the share price of Advanced Info Service Public Company Limited (ADVANC) rose THB10.00/share or 5.10% to THB206/share, with a trading value of THB3,708 million.
Capital Nomura Securities upgraded its target price for ADVANC to THB220, believing that the company will gain indirectly from the TRUE-DTAC merger, which is likely to result in weaker competition in the telecom industry. Besides that, the company’s revenue outlook is optimistic due to a recovery in mobile business and new businesses such as 5G, fiber, enterprise, and digital services have entered into the slope of its growth S-curve.
