The share price of BTS Group Holdings Public Company Limited (SET: BTS) rose 7% on Friday to trade at THB10.10/share with a trading value of THB2,951 million, as passenger traffic recovered faster than expected and speculation about the Green Line concession extension rose.
KGI Securities (Thailand) said that BTS shares have risen exponentially in value as a result of the company’s recovery in the 3Q21/22 operating results, which reflect solid performance following a slump in the previous quarter during the peak of the Covid-19 delta variant outbreak.
For the Green Line concession extension, KGI believes that the government will consider it in the end and that disagreement from the Bhumjaithai Party is unlikely to derail the project. Recommend “BUY” with a target price of THB12.60 per share.
