The share price of North East Rubber Public Company Limited (SET: NER) rose THB0.30/share or 4.11% to THB7.60/share as of 11.12 hrs. local time in Thailand, with a trading value of THB208 million.
Maybank Securities (Thailand) (MST) recommends “BUY” on NER, with a target price of THB10.70 as it expects NER to report a new record profit of THB544 million (+29.0% YoY), driven by margin expected to hit the year’s peak. As a result, 2021 earnings will make a new record of THB1.783 billion (+107.6% YoY). 2022 will be the first year that NER opens new doors to downstream businesses that will double its margins and relax its working capital as well.
