Analysts Revise Up PSL’s Earning Growth in 2021-22 Significantly, Recomm”BUY” at Bt12
Analysts Revise Up PSL’s Earning Growth in 2021-22 Significantly, Recomm”BUY” at Bt12.00/Share.
Analysts Revise Up PSL’s Earning Growth in 2021-22 Significantly, Recomm”BUY” at Bt12.00/Share.
22 ก.พ. 2564

The share price of Precious Shipping Public Company Limited (PSL) jumped as much as ฿1.15/share or 12.04% to ฿10.70/share before edging lower to ฿10.10/share as of 11:55 local time in Thailand.
 
Krungsri Securities (KSS) has given a “BUY” recommendation on PSL with an upgraded target price from ฿9.50/share to ฿12.00/share. KSS stated that PSL delivered Bt64m core profit for 4Q, up 127% YoY. The security company maintained a positive outlook for 2021 premised on demand outpacing supply, and rising BDI.
KSS revised up FY21F and FY22F earnings by 28% and 20% to Bt946m and Bt1,176m, respectively.
 
Kasikorn Securities (KS) has given a “BUY” recommendation on PSL with a target price at ฿10.80/share. KS stated that PSL’s profit recovered to Bt64mn versus a loss of Bt22mn in 3Q20, thanks to a 14% improvement in service rate QoQ (in line with our estimate).
KS revised up 2021-22F earnings forecasts by 47% and 57% respectively, following an increase in the service rate by 4% to USD1 2, 163/ vessel/ day and by 8% to USD12 , 975/vessel/day to price in strong demand growth from China and declining SG&amp;A expenses.
 
 