Headline: Maybank upgrades target price for all shares in JMART Group as strong earnings seen in parent and subsidiaries
Maybank Securities (Thailand) (MST) revised the target price for all shares in JMART Group. A target price for JMT Network Services Plc. (SET: JMT) is upgraded from THB80.00 to THB103.00 on its improving outlook of NPL portfolio and a joint venture with Kasikornbank Plc. (SET: KBANK) (SET: KBANK). For Singer Thailand Plc. (SET: SINGER), its target price is raised to THB60.50 on a spinoff of SG Capital in 3Q22. Meanwhile, a target price for Jay Mart Plc. (SET: JMART) has been revised up to THB75.00 as strong earnings are seen in subsidiaries.
Headline: Analysts anticipate a bullish market, fueled by a window dressing in SET50
Analysts anticipate a drop in institutional selling in the near future, as 370 mutual funds investing in Thai stocks are holding more cash than usual. Also, analysts expect some window dressing in blue-chip stocks such as SCB, BBL, KBANK, TOP, PTTGC, GULF, and GPSC.
Headline: SCGP sees solid profit growth of over THB10 billion this year
SCG Packaging Plc. (SET: SCGP) sees solid profit growth this year, with earnings of up to THB10 billion, or 26% higher than a year earlier, despite rising costs. SCGP has been assigned a “BUY” rating by analysts with a target price of THB70.00.
Headline: EA to deliver 800 electric buses in 2H22
Energy Absolute Plc. (SET: EA) will begin delivering 800 electric buses in the second half of this year after acquiring Smart Bus Co., Ltd. and collaborating with J.R.W. Utility Plc. (SET: JR) and Thailand’s Metropolitan Electricity Authority to develop over 1,000 new electric vehicle charging stations. EA expects to increase its EV charging stations from 440 to 1,900.
Headline: TH says a bullish outlook for AMC’s operations is driving the company’s share price up
Somnuk Kyavatanakij, chairperson of Tong Hua Holding Plc. (SET: TH), stated that the increase in share price was attributable to the company’s Asset Management Company (AMC) business having a positive outlook. The company hopes to increase its profit margins over the next 2-3 years by introducing THAM as its new flagship.
