On Monday, Maybank Securities (Thailand) stated in its report, pointing to SKY ICT Public Company Limited (SET: SKY) as a noteworthy stock to watch.
The analyst noted that SKY is poised to benefit from the rising number of passengers at Thai airports and the government’s investments in IT. These factors are forecasted to drive robust core profit growth of 61% and 56% in 2024 and 2025, respectively.
The anticipated 56% growth in 2025 will be supported by passenger services and AOTGA, in addition to new revenue streams such as a significant 213% increase in revenue from SI projects, biometric scanning services at AOT airports, and revenue from CUPPS at seven airports of the Department of Airports.
The company stands to gain from the ground service project at Suvarnabhumi’s SAT-1 Terminal, which is up for bidding in March 2025, with another upside for 2025-26 being the increased adoption of government cloud services.
As a result, Maybank Securities (Thailand) set a strategic target price for SKY at THB 29.40 per share.
