The share price of Exotic Food Public Company Limited (SET: XO) rose THB2.20/share or 11.00% to THB22.20/share as of 11.45 hrs. local time in Thailand, with a trading value of THB387 million.
Finansia Syrus Securities (FSS) expects XO’s profitability to rebound both QoQ and YoY in 4Q21, as supply chain problems are resolved and raw material costs have remained stable.
Additionally, based on the great response to the hemp sauce launched in 3Q21, XO is preparing to offer a new CBD sauce this year. With respect to the goal of increasing production capacity by 50%, XO intends to hasten implementation to 1Q22. Recommend “BUY” with a target price of THB22.00.
