The share price of SCG Packaging Public Company Limited (SCGP) closed ฿2.50/share or 3.86% higher to trade at ฿67.25/share on Wednesday, September 8, with a trading value of 1,621 million baht. SCGP price rose in positive territory for the first time in three days since September 2.
Finansia Syrus Securities maintains a BUY rating on SCGP but increased its target price to 82 baht due to its optimism over SCGP’s additional investment to achieve 100 percent ownership in Visy Packaging. This acquisition will bolster the HVA product line’s sales and margins, hence supporting earnings in 4Q21 and even beyond.
SCGP’s earnings are expected to grow 31% between 2021 and 2023, according to FSS, as a result of investments during the past year.