TTA Climbs 4% to Its 3-Year Peak as the BDI Rises, Analyst Recomm. “BUY” at ฿12 
TTA Climbs 4% to Its 3-Year Peak as the BDI Rises, Analyst Recomm. “BUY” at ฿12 
TTA Climbs 4% to Its 3-Year Peak as the BDI Rises, Analyst Recomm. “BUY” at ฿12 
19 มี.ค. 2564

The share price of Thoresen Thai Agencies Public Company Limited (TTA) rose to ฿9.95/share as of 12:04 local time in Thailand, an increase of ฿0.40/share or 4.19% with a trading value of 542 million baht.
 
TTA has climbed to its three-year peak of ฿10.10/share earlier today after the Baltic Dry Index (BDI) continues a rally for 5.23% to 2,215, a peak since September 2019.
 
Finansia Syrus Securities (FSS) has given a “BUY” recommendation on TTA with a target price of ฿12.00/share in anticipation of rebound in 2021 to book earnings of 726 million baht, an increase of 22% YoY, supported by a strong shipping segment and offshore service.
 
Overall, FSS estimated the demand for shipping this year to be greater than the supply and time-charter rate is expected to increase, while offshore service business has a backlog of US$190 million, but due to no dry docking of vessels and the sell of jack-up drilling rigs in 3Q20, this business unit is at risk of facing loss.