JMT Network Services Public Company Limited (SET: JMT) made an official announcement yesterday for the long-awaited partnership with Kasikornbank Public Company Limited (SET: KBANK) in an establishment of a joint venture to operate 2 types of business, which are debt collection business and asset management business.
Capital Nomura Securities (CNS) has a positive view on Jay Mart Public Company Limited (SET: JMART) from this partnership between JMT, its subsidiary, and KBANK on cost-wise and competitiveness-wise while changing its operating method.
CNS revised up JMART’s net profit forecast in 2022-2023 by an average of 2% to 1.96 billion baht (+54% YoY) and 2.6 billion baht (+32% YoY), based on the assumption of higher debt purchase.
In the meantime, 4Q21 performance should grow significantly due to a peak season for its business sections while there is an upside risk from the synergy with BTS and GUNKUL as well as the feedback from JFIN Coin. The growth potential will be supported by JMT as the main driver.
In addition, CNS raised the target price for JMART from THB53 to THB65 and JMT at THB75 per share.
The share price of JMART closed the morning session on December 22, 2021, at THB55.50 per share, increased THB1.25 or 2.3%. The share price has increased 177.5% this year. Meanwhile, JMT closed the morning session slightly lower by THB0.25 or 0.37% at THB67.25 per share. The share price has increased 91.2% this year.
