WHA Sees Bright Prospects for Investment in 2021, Analyst Recomm. “BUY” with TP of ฿4.1

Chairman of the Board of Directors of WHA Corporation Public Company Limited (WHA), Miss Jareeporn Jarukornsakul, unveiled that the company foresees a bright prospect for investment in 2021, and will continue to move forward in the logistics business. WHA also plans to open 5 new distribution centers with a total area of approximately 400,000 sqm., while expecting to accelerate the development of two industrial zones in Vietnam, representing a total gross area of nearly 7,500 rai, as the sales volume has already exceeded target. 

 

Additionally, WHA targets to expand new projects both in Thailand and overseas as utilities business to its normalized levels following an increased water-electricity demand. And aims to penetrate the 300MW Solar Energy market within 3 years. 

 

KGI Securities (KGI) sees a positive development on vaccinations and a solid timeframe for the country’s reopening would support business activity in 2H21-2022, making its view on relocation more realistic. KGI re-rated PER for IE business to reflect the positive outlook from the solid timeframe on the re-opening of the country and with 19% upside from the last closing price and raised the target price to ฿4.10/share and upgrade WHA to Outperform, from Neutral.