Analysts Expect TISCO’s 3Q20 Profit of ฿1.45Bn, Giving “BUY” Recomm. with a TP at ฿86

Tisco Financial Group Public Company Limited (TISCO) is confident in being the first commercial bank to pass the Stress Test by the end of October as the company has a higher coverage ratio at 189.8% (1.9x), and the company estimated a better performance than other banks. Moreover, TISCO has a 8-10% dividend yield as the analyst recommended the target price for TISCO at ฿86.00/share.

 

Asia Plus Securities (ASP) expected the result of the banking sector’s Stress Test shall be announced between the end of October and November 2020, stating that most banks have a higher-than-standard capital adequacy ratio (CAR), while TISCO has CAR at 21.9%.

 

ASP estimated TISCO’s 3Q20 core profit of 1,455 million baht (+9% QoQ, -22.5% YoY) and dividend yield was at 8-10%. 

 

Maybank Kim Eng (Maybank) choosed TISCO as a “Top Pick” among its peers, due to a better profit trend when compared to other banks, along with a higher coverage ratio at 189.8%, giving a “BUY” recommendation with a target price at ฿80/share.

 

Capital Nomura Securities (CNS) suggested monitoring the coming Stress Test result by mid-October, assessing TISCO to pass the test as the bank has high CAR.  

 

Bualuang Securities stated TISCO has a CAR as high as 23%, which is 12% above Bank of Thailand regulations, giving a “BUY” recommendation with a target price of ฿86/share.