The share price of RATCH Group Public Company Limited (RATCH) closed in the morning session at ฿72.00/share, rose ฿2.75 or 3.97%. During the session, the highest of RATCH’s share price was ฿72.50/share, making an all-time high, and the lowest was ฿69.50/share with a trading value of ฿619 million.
KTB Securities (KTBST) recommended “BUY” RATCH share with the target price of ฿72.00/share. RATCH’s EBITDA has increased to ฿400-500 million or ฿2.00-2.50/share due to sudden revenue recognition from purchasing SPP and the share price has not reflected the transaction of 110MW SPP Cogeneration in value of THB 5,726.68 million with a 20 years PPA.
Moreover, the value from the investment in 214MW wind power plant in Australia with the value of ฿1,630,768,317.73 has not reflected in the share price as well, and the revenue recognition will be recognized in September 2020. KTB estimated 12% of EIRR for this project and expected RATCH to recognize a profit of ฿500 million per year or ฿3.00/share.