CRC Gains 5%, Analyst Sees Signs of Recovery in 3Q21 Earnings as Sales in Europe Improve
CRC edged 4.72% higher at the afternoon session’s opening on Aug 20, 2021, analyst holds a “BUY” rating with a target price of 35 baht on signs of recovery in Europe and sales through Omni channel will continue to grow in 3Q21
The share price of Central Retail Corporation Public Company Limited (CRC) edged 4.72% higher at the afternoon session’s opening on Aug 20, 2021, to trade at ฿33.25/share.
As of 15:14 local time in Thailand, CRC’s rose ฿1.25/share or 3.94% to ฿33.00/share, with a trading value of 686 million baht.
Maybank Kim Eng (Thailand) (MBKET) said in its Strategy Report on August 20, 2021, that despite the strict measures in Thailand may put pressure on 3Q21 earnings, but the share price of CRC has already priced in. While the signs of recovery in Europe are expected to support SSSG in Italy with more than 10% growth. Plus, sales through Omni channel will continue to grow high (15% of sales in 1H21 from 9.5% in 2020). So, MBKET holds a “BUY” recommendation on CRC with a target price of 35 baht.