ECL Jumps 12% to Bt2.0, KGI Expects an Acceleration in 2H as Normal Auctions Return
The share price of ECL rose more than 12% as KGI Securities expected the business to accelerate in 2H when the auctions return to normal.
The share price of ECL rose more than 12% as KGI Securities expected the business to accelerate in 2H when the auctions return to normal.
19 พ.ค. 2564

The share price of ECL rose ฿0.22/share or 12.36% to ฿2.00/share as of 12:02 local time in Thailand on May 19, 2021, with a trading value of 663 million baht.
 
KGI Securities has given a “BUY” recommendation on Eastern Commercial Leasing Public Company Limited (ECL) with a target price at Bt2.48, giving a support level at Bt1.74 and two resistance levels at Bt1.8 and Bt2.0 per share (Trailing Stop at Bt1.70).
 
It is also expected that the performance will accelerate strongly in 3Q21 and 4Q21 from the returning in a normality of auto auctions of the partners, Union Auction Public Company Limited (AUCT), certified used-car business and the tightening loans measure, causing demands for used-car to rise.
 
KGI expected profit in 1Q21 to reach 140 million baht, close to the historical high, but PBV is on a low side at around 1 times, lower than the historical average of 1.3 times. Meanwhile, PE this year is on the lower side atalso 14 times.