On 13 December 2024, Maguro Group Public Company Limited (mai: MAGURO)’s share price settled at THB 21.50, reflecting a 2.87% gain on Friday, with a trading value of THB 54 million.
Daol Securities (Thailand) reiterated a ‘BUY’ recommendation for MAGURO, setting a target price in 2025 at THB 22.50 per share.
The analyst supported the recommendation with the following rationale:
- MAGURO is a Thai full-service restaurant business that showed consistent growth.
- MAGURO has a low market penetration rate compared to its competitors and has potential for further growth from new branches and brands.
- MAGURO bears a strong brand awareness and brand loyalty, with over 55% of revenue derived from membership.
- MAGURO’s valuation is considered low compared to its all-time high profit growth in 2024-2025.
Currently, MAGURO is trading at a 2025 price-earnings ratio (PER) of 20.90 times, which is lower than its peers. The company also benefits from short-term catalysts stemming from 4Q24 profit that are on track to reach new highs.
