EPG Jumps 8% in Response to a Robust Growth Forecast-Automotive Recovery Is Underway

EPG Jumps 8% in Response to a Robust Growth Forecast-Automotive Recovery Is Underway

The share price of Eastern Polymer Group Public Company Limited (EPG) rose ฿0.80/share or 8.00% to ฿10.80/share as of 15:33 local time in Thailand, with a trading value of 728 million baht. 

 

With a significant rise in share price, Kingsford Securities recommended “Speculative-Buy” on EPG with a target price of ฿11.60/share.

 

Meanwhile, Finansia Syrus Securities (FSS) has given a “BUY” recommendation on EPG with a target price of ฿12.00/share in anticipation of a solid growth in all business lines for the year 2022 (Apr. 2021 – Mar. 2022), foreseeing car accessories unit and plastic packaging sector to continue on positive momentum in line with Thai automotive recovery. 

Thus, 2022 earnings are expected to grow 51% YoY due to a sufficient inventory despite oil and petrochemical prices rising.

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