TIDLOR Jumps 46% to Bt53.50 on the First Trading Day, FSS Recomm. “BUY” at a TP of Bt54
TIDLOR kicked off its first trading day in SET Index, gaining more than 46% above its IPO price. FSS recommended "BUY" at a TP of Bt54.
Ngern Tid Lor Public Company Limited (TIDLOR) debuted its first trading day in the Thai stock market with an increase by ฿17.00/share or 46.58% to ฿53.50/share, higher than its IPO priced at ฿36.50/share.
TIDLOR provides loan, hire purchase, non-life insurance brokerages service, life insurance brokerages service and related services.
Finansia Syrus Securities (FSS) recommended “BUY” TIDLOR with a target price at ฿54.00/share, expecting normalized CAGR net profit in 2021-23 to increase 31%, which will be the highest among its peers due to product innovation and omni-channel. Meanwhile, its cost to income ratio is lower than other competitors. The company also has a synergy with BAY, which is its parent company.
