The share price of Gunkul Engineering Public Company Limited (GUNKUL) rose ฿0.14/share or 4.46% to ฿3.28/share as of 11:30 local time in Thailand on Monday with a trading value of 554 million baht. The highest share price up to this point was ฿3.30/share and the lowest was ฿3.20/share.
Country Group Securities (CGS) has given a “BUY” recommendation on GUNKUL with a target price at ฿3.45/share with an estimated production capacity to increase 80% within 2023. Meanwhile, CGS expected GUNKUL’s 1Q21 earnings to grow from the contribution of 140MW solar power plant that commercialized in 4Q20. The company also has 8.5 billion baht of backlog in EPC business.
In addition, the company is considering entering into a hemp-related business as well.