Analysts gave a “BUY” recommendation on Muangthai Capital Public Company Limited (MTC) in unison, seeing high growth in loan portfolio as well as constant net profit growth. The 4Q20 earnings are expected to report a new high and will be able to compete with a joint venture of SAWAD and GSB.
The company also cut its car-title loan interest rate by 18% from the earlier 19% to in line with SAWAD and GSB.
Analysts expected 2020 earnings to increase 16-22%, and another 15% in 2020, mainly due to an expansion of loan business.
Recommendation and Target Price
Phillip Securities “BUY” at ฿61.00/share
Maybank Kim Eng “BUY” at ฿68.00/share
Capital Nomura Securities “BUY” at ฿69.00/share
Tisco Securities “BUY” at ฿70.00/share
LH Securities “BUY” at ฿71.00/share
DBS Vickers “BUY” at ฿73.00/share