The share price of Major Cineplex Group Public Company Limited (SET: MAJOR) closed at THB 18.50 per share, increased THB 0.80 or 4.47%, its highest of the day with a trading value of 215 million baht.
Kingsford Securities Public Company Limited (SET : KINGSFORD) gave a “ BUY ” recommendation on MAJOR with a target price at THB 22.40 per share, while estimating that operating performance for 2022 and 2023 would be recovered. Kingsford expected MAJOR’s 2022-23 EPS to turn positive at THB 0.46 and THB 1.00, respectively.
Performance in 2021 would contract by THB 0.70 per share if excluding its extraordinary gains from asset selling. Meanwhile, the recovery is progressing in line with the country’s opening.
In 4Q22, Kingsford expected normalized profit to continue recovering, compared with YoY and QoQ from the advertisements income, sales of foods and drinks, especially popcorn, to grow along with the country opening. 4Q22 also had big released movies such as Black Panther : Wakanda Forever, Avatar : The Way of Water.
