The share price of North East Rubber Public Company Limited (NER) rose ฿0.50/share or 6.45% to ฿8.25/share as of 12:09 local time in Thailand, with a trading value of 629 million baht.
LH Securities forecast NER to report record earnings in 2Q21, up 10%QoQ and 80%YoY, on the back of an increase in rubber export and rubber price due to a weaker Thai baht. As of recently, the baht fell to 32.60 to the US dollar, dropping 7.50% YTD. As a result, the net income for the first half of 2021 would grow both YoY and QoQ. While full-year net profit is projected to expand 90% in 2021 and 16% in 2022. LH maintains a “BUY” recommendation on NER with a target price of 9 baht.