The share price of True Corporation Public Company Limited (SET: TRUE) on Wednesday settled 1.71% higher at THB 11.90 per share. The lowest price during the session was THB 11.70 and the highest was THB 12.10, with a total trading value of THB 928 million.
InnovestX Securities stated in an analysis that TRUE’s strong profit growth will be a major factor that continuously drives the share price up. Meanwhile, the company’s 4Q24 performance was expected to earn a normal profit at THB 3.7 billion, recovering from THB 702 million losses in 4Q23, and a 23.9% gain from its previous quarter.
The new forecast showed improvement from the previous estimate, which would support 2024’s recovery to a normalized profit of THB 9.5 billion. 1Q25 could also see a strong normal profit compared to the same period last year.
Yuanta (Thailand) Securities also said in analysis that TRUE’s normal profit in 4Q24 would sit at THB 3.8 billion, a significant gain compared to THB 2.9 billion of normal profit and THB 1.6 billion losses from 3Q24. 4Q24 were reinforced by growth in service revenue ex. IC and reduced cost from improved synergy.
However, TRUE may set up a larger-than-usual reserve in 4Q24, resulting in a heavy loss at the bottom line. Additionally, the analyst recommended “Buy” at the target price of THB 14.00.
