On Thursday at 2:40 PM (Bangkok time), the share price of Amata Corporation Public Company Limited (SET: AMATA) grew by 2.83% or THB 0.75 to THB 27.25, with a trading value of THB 349.09 million.
Kasikorn Securities (KS) observes a positive sentiment surrounding AMATA’s land sales performance in the first nine months of 2024, with sales exceeding 2,081 rai, marking a 68% increase compared to the same period last year. This achievement surpasses AMATA’s full-year sales target of 2,000 rai.
In 3Q24, sales reached 957 rai, with 867 rai being sold in Thailand and 90 rai in Vietnam. Notably, 80% of the clientele hail from China, particularly within the electronics and automotive industries.
Looking ahead to 4Q24, the analyst projects AMATA will achieve land sales of at least 500 rai, alongside securing a 120 rai deal for a Singaporean data center. For 2025, sales are expected to maintain or exceed 2024 levels, fueled by current robust demand and a balance transfer of 452 rai in the third quarter, which surpasses the combined total of the first and second quarters. The initial profit for AMATA in 3Q24 is anticipated to see significant growth compared to both 2Q24 and 3Q23.
Kasikorn Securities gives a ‘BUY’ recommendation for AMATA, with a target price of THB 29.50 per share.
