STA Leaps 10% ahead of Hemp Plantation Biz-Rubber Price Uptrend, Analyst Recomm. “BUY”

STA Leaps 10% ahead of Hemp Plantation Biz-Rubber Price Uptrend, Analyst Recomm. “BUY”

The share price of Sri Trang Agro-Industry Public Company Limited (STA) in the morning session on Feb 22 rose ฿4.25/share or 9.83% to ฿47.50/share with a trading value of 5,804

 

Classic Ausiris Investment Advisory Securities assessed that rubber prices are expected to increase as 1) Covid-19 continued to ramp up a demand in rubber gloves and 2) a rising rubber demand from global economic recovery. 

 

Trinity Securities said that STA set to start its hemp plantation business with an initial farming area of 100-200 rai from its own vacant land in 3 provinces. At present, STA is waiting for the hemp production license with an expectation to begin harvesting this Oct 2021. TS reiterated a “BUY”, but revised up a target price to ฿52.80/share.

Meanwhile Bloomberg Consensus gave a target price of STA at ฿49.40/share with Kasikorn Securities giving the highest target price at ฿55.00/share.

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