COM7 forecasted an outstanding performance in 4Q20 in response to “Shop Dee Mee Kuen” (Shop and Payback) measure and the newly announced iPhone 12 that supported 5G technology. The analyst expected a 350 million baht of profit for COM7 in 3Q20, an increase of 22% YoY, and advised “Speculative Buy” with a target price at ฿45.50/share.
Mr.Sura Khanittaweekul, Chief Executive Officer of Com7 Public Company Limited (COM7), revealed that COM7 expected a better performance in the second half of 2020 despite having the delay of iPhone announcement. Branch expansion is so far in line with the company’s target, expecting 160 new store openings.
COM7 forecasted the performance in 4Q20 to benefit from the “Shop Dee Mee Kuen” program (Shop and Payback), which could drive consumer spending up at the end of this year. COM7 maintained its profit growth target of 10% YoY.
Maybank Kim Eng (Maybank) assessed COM7 to receive a supporting factor in both short-term and long-term. Meanwhile estimating net profit of 350 million baht in 3Q20, an increase of 22% YoY.
Maybank revised its COM7’s profit forecast in 2020-2021 to jump by 7-14% due to a speedy recovery in sales volume and a better-than-expectation trend, recommending “Speculative Buy” with a target price at ฿45.50/share.