The share price of Bangkok Airways Public Company Limited (BA) rose ฿0.95/share or 11.05% to ฿9.55/share as of 15:40 local time in Thailand, with a trading value of 259 million baht.
Tisco Securities has a positive view towards BA following the progress of Covid-19 vaccination drive and an improving Covid outbreak situation in Thailand. Due to the restriction on small aircraft travel in China, the return of foreign visitors from 2022 onwards may be slow at the beginning. However, BA is not highly dependent on Chinese tourists. Thus, BA is expected to benefit in the near term.
Furthermore, Tisco Secs. believes BA will benefit from a well-known tourism area such as Koh Samui, which is expected to become the next destination to welcome international visitors after Phuket. Therefore, Tisco recommended “BUY” on BA with a target price of 10.80 baht per share.