TASCO Jumps 9%, Analyst Raises Rating to “BUY” at ฿21 in Hopes of Bright 4Q20 Earnings

TASCO Jumps 9%, Analyst Raises Rating to “BUY” at ฿21 in Hopes of Bright Earnings in 4Q

The share price of Tipco Asphalt Public Company Limited (TASCO) rose ฿1.80/share or 9.42% to ฿20.90/share with a trading value of 2,649 million baht as of 15:50 local time in Thailand on January 14, 2021.

 

Asia Plus Securities has revised a recommendation of TASCO to “BUY” with a target price of ฿21.00/share in hopes of a better 4Q20 performance despite a lower sales volume of asphalt during the low season.

 

In addition, TASCO has booked 179 million baht in 4Q20 from insurance claims, thus projecting a gross profit of approx. 600-800 million baht, an increase of 20% YoY.

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