The share price of Energy Absolute Public Company Limited (SET: EA) closed the morning session at a record high of Bt93.50 per share, increased by Bt8.50 or 10% with a trading value of 3,928 million baht, the highest in the Thai stock market this morning.
EA saw its share price rise 90% this year from Bt49.25 at the end of 2020 as the clean energy trend is growing in Thailand, which led to EA’s transforming business from solar power to electric vehicles.
Mr. Suwat Sinsadok, Managing Director of FSS International Investment Advisory (FSSIA), through “Kaohoon Jor Talad Program” on December 15, 2021, stated that Thai stocks that are in the process of transformation are worth focusing more than reopening stocks while picking Energy Absolute Public Company Limited (SET: EA) and Nex Point Public Company Limited (SET: NEX) as two of the stocks that are in the radar of investors.
FSSIA’s MD stated that transformation stocks are rare in the Thai stock market and local institutions and foreign investors are focusing on these stocks, especially EA as a big-cap stock and NEX as a focus of smaller funds or hedge funds, seeing significant surge in trading value as of late.
Mr. Sinsadok elaborated that EA and NEX are on the same approach as international companies that are flourishing from the EV business as investors see potential performance in the future along with support from the government sector.
In addition, Mr. Sinsadok set the 2022E target price for EA at Bt122 per share and for NEX at Bt25 per share, saying the latter should be achievable by 1Q21.
