LPN Hikes 6% to a New High in 7 Months, Analyst Maintains Outperform at TP ฿9.30/share
LPN Hikes 6% to a New High in 7 Months, Analyst Maintains Outperform at TP ฿9.30/share
LPN Hikes 6% to a New High in 7 Months, Analyst Maintains Outperform at TP ฿9.30/share
3 ก.ค. 2562

As of 15.30 local time in Thailand, the share price of L.P.N. Development Public Company Limited (LPN) was at THB7.90, increased THB0.45 or 6.04%. During the session, the highest of LPN’s share price was at THB7.95 and the lowest was at THB7.45 with a trading value of THB216,440 million. LPN’s share price has sharply increased to the highest point in 7 months since the share price was at THB7.90 on 6 December 2019.
Krungsri Securities has reinstated coverage of LPN with an “Outperform” rating at the target price of THB9.30/share. The presales and earnings of LPN will remain sluggish in 2Q19 due to stricter LTV measure and absence of sizable new launches in the period. However, most of the negatives have been priced-in and earnings should pick up later this year. LPN is trading at undemanding valuation because of the derailed launch plan, sluggish presales and weaker earnings momentum in 1H19. However, this could be an opportunity to accumulate because the stock is trading near its net current asset value of THB6.35 per share and offering 8% dividend yield. 