TTA Skyrockets 17% to Bt12 amid Rising Freight Rate, KTBST Recomm. “BUY” at a TP of Bt13
TTA Skyrockets 17% to Bt12 amid Rising Freight Rate, KTBST Recomm. “BUY” at a TP of Bt13
TTA Skyrockets 17% to Bt12 amid Rising Freight Rate, KTBST Recomm. “BUY” at a TP of Bt13
22 มี.ค. 2564

The share price of Thoresen Thai Agencies Public Company Limited (TTA) hiked ฿1.80/share or 17.65% to trade at ฿12.00/share as of 10:44 local time in Thailand on March 22, 2021, with a trading value of 1,155 million baht. The highest share price up to this point was ฿12.30/share and the lowest was ฿10.60/share.
 
KTB Securities (Thailand) (KTBST) has given a “BUY” recommendation on TTA with an upgraded target price from ฿10.00/share to ฿13.00/share based on 2021 PER at 31.5x (+1.5SD above 4-Y average PER) in response to higher freight rate that KTBST estimated to maintain at a higher level in a long term.
KTBST revised up TTA’s 2021 and 2022 profit forecasts to 14% and 12%, respectively, supported by rising BSI Index by 106% YTD, 47% MoM and 180% YoY.
 