The share price of Kasikornbank Public Company Limited (KBANK) extended its gain to close the morning session on June 9, 2021, at ฿128.50/share, increased ฿4.00/share or 3.21% with a trading value of 4,674 million baht, the most in the Thai stock market this morning.
KBANK had been plunging prior to this uptick due to the concerns over the Covid-19 situation in 2Q that could cause the bank provision to spike again. Meanwhile, MSCI Global Standard Indexes also delisted KBANK-F and KBANK from its index as well.
Krungsri Securities (KSS) has given a “BUY” recommendation on Kasikornbank Public Company Limited (KBANK) with a target price at ฿162.00/share.
KSS stated that KBANK would receive positive sentiment from the report of Thai NVDR allowing investors to invest in KBANK from June 8, 2021, onward after a halt earlier due to the room limit of 25% in the NVDR trading board.
Maybank Kim Eng expected KBANK’s earnings in 2021-2022 to grow 8-11%. Income fees are expected to grow as well as a gradual recovery of asset quality in the mid-term, in line with the positive development in Thai economy. Lastly, the share price currently traded at PBV 0.6x, which is an attractive value to accumulate.