SINGER Jumps 10% after Restructuring, Analyst Recomm. “BUY” at ฿10.40, Upside 30%!!
The share price of SINGER soars almost 10% on July 1, 2019, morning session, up 36% in a month. Maybank recommends BUY at ฿10.40/share.
The share price of SINGER soars almost 10% on July 1, 2019, morning session, up 36% in a month. Maybank recommends BUY at ฿10.40/share.
1 ก.ค. 2562

The share price of Singer Thailand Public Company Limited (SINGER) has been on the rise as of late. At 10:40, the share price was at ฿8.10/share, rose ฿0.70/share or 9.46%. The highest since the opening was ฿8.15/share and the lowest was ฿7.70/share with a trading value of THB 112 million. More importantly, the share price already rose 36% since it was at ฿5.95/share on June 4, 2019.
 
Maybank Kim Eng recommend “BUY” at a target price of ฿10.40/share (upside 28.4% from the current trading price at ฿8.10/share), saying that the company has restructured its business of leasing and improve its lending portfolio in the past few years. From now on, Maybank believes it is entering the growth stage, expecting strong 2H19 earnings ((1Q&lt;2Q&lt;3Q&lt;4Q) as the leasing business is in the high season in 2Q19, boosting QoQ growth.
The auto leasing business should return to expand in 2H19. With strong improvements as it turned to profit for 4 quarters consecutively, Maybank therefore initiated a BUY rating, giving a target price at ฿40/share, on P/E of 25x from 3-Yr CAGR (2019F-2021F) average of 30%.