The share price of SISB Public Company Limited (SISB) rose ฿0.50/share or 6.17% to close the morning session at ฿8.60/share with a trading value of 7.2 million baht after the report of higher net profit recognition in 4Q20.
KGI Securities has given an “Outperform” rating on SISB with a target price at ฿11.30/share on impressive 4Q20 earnings and a positive outlook in 2021.
KGI stated that SISB reported a very strong 4Q20 net profit of Bt68mn (+3.2% YoY, +136.9% QoQ), while its 4Q20 normalized profit was Bt68mn (+3.6% YoY, +58.29% QoQ). The result was 25.9% above our forecast. All-in, SISB’s performance showed a new quarterly high net profit following the re-opening of schools from online learning. We maintain our 2021 earnings forecast at Bt226mn (+41.3% YoY) and rate SISB Outperform with a 2021 target price of Bt11.30.