JAS Continues to Rise, Posting 5% Up as Analyst Raises Rating to “BUY” with TP of ฿3.56
JAS Continues to Rise, Posting 5% Up as Analyst Raises Rating to “BUY” with TP of ฿3.56
The share price of Jasmine International Public Company Limited (JAS) as of 11:29 local time in Thailand rose ฿0.14/share or 4.86% to ฿3.02/share with a trading value of 470 million baht.
Kasikorn Securities upgraded Jasmine International Public Company Limited (JAS)’s rating to “Outperform” from “Underperform”, meanwhile trimmed a target price to ฿3.56/share (from ฿5.50/share) due to 1) free cash flow (FCF) to outweigh accounting loss 2) better monetization from service bundling strategy and 3) acquisitions.
Analyst saw share price likely over penalized from 1) intense competition 2) a rising OFC rental charge to JASIF and 3) the impact from TFRS 16 adoption.
Therefore, there is a buying opportunity as operations were unaffected by Covid-19, selloff was too severe (-47% YTD vs. -16% SET) a valuation looks compelling.