The share price of Sri Trang Gloves (Thailand) Public Company Limited (STGT) rose ฿1.00/share or 2.25% to ฿45.50/share with a trading value of 1,216 million baht as of 10:42 local time in Thailand on April 23, 2021.
Country Group Securities (CGS) recommended STGT and STA after the global coronavirus outbreak made another surge despite a continuous vaccine rollout in many countries.
Finansia Syrus Securities (FSS) gave a “BUY” recommendation on STGT with a target price at Bt52.00 per share, expecting net profit to grow 32% QoQ and 260% YoY from higher selling volume and average selling price.
FSS also forecasted that the whole year earnings of STGT would grow 137% in 2021 to make another record high before slowing down in 2022-2023. Lastly, the company has a high dividend yield at 13%.
Meanwhile, the share price of Sri Trang Agro-Industry Public Company Limited (STA) was flat at Bt48.75 after a 4.28% gain in yesterday’s session.