Stocks in Jay Mart Group Soar as Investors Speculate on Bright Earnings, SINGER Jumps 16%

Stocks in Jay Mart Group Soar as Investors Speculate on Bright Earnings, SINGER Jumps 16%

The share price of Singer (Thailand) Public Company Limited (SINGER) rose to ฿27.25/share, gaining ฿3.75/share or 15.96% with a trading value of 479 million baht. Reached its new high in 26 years at ฿29.25/share, gaining ฿5.75/share or 24.5%.

 

The share price of Jay Mart Public Company Limited (JMART) rose to ฿20.40/share, gaining ฿0.90/share or 4.62% with a trading value of 596 million baht.

 

The share price of JMT Network Services Public Company Limited (JMT) rose to ฿35.00/share, gaining ฿0.75/share or 2.19% with a trading value of 361 million baht.

 

Maybank Kim Eng has given a “BUY” recommendation on SINGER at a target price of ฿21.00/share, seeing a bright outlook in 2020 and expecting a continued business growth in 2021-2022. Maybank revised SINGER’s profit projection up by 20% from a better-than-expected credit cost and a continuous expansion of car for cash (C4C) in every quarter, estimating 2021 profit to grow by 21% YoY.   

 

Also recommending “BUY” on JMT at a target price of ฿35.50/share on strong and robust growth trend, expecting an all-time high in 4Q20. Forecast of 2021-2022 performance has been revised up 10% from a faster-than-expected GPM, boosting next year’s profit by 32% YoY.   

 

Meanwhile, Krungsri Securities has given a “BUY” recommendation on JMART at a target price of ฿20.70/share after has been included to SET100 in the latest adjustment, seeing the Shop Dee Mee Kuen (Shop and Payback) campaign to enhance sales volume.

 

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