RT Soars 11% to Bt2.48 with 20% Revenue Growth Projection, Analyst Recomn. “BUY” at Bt3
RT Soars 11% to Bt2.48 with 20% Revenue Growth Projection, Analyst Recomn. “BUY” at Bt3.00
RT Soars 11% to Bt2.48 with 20% Revenue Growth Projection, Analyst Recomn. “BUY” at Bt3.00
25 มี.ค. 2564

The share price of Right Tunnelling Public Company Limited (RT) rose ฿0.26/share or 11.71% to ฿2.48/share as of 10:29 local time in Thailand with a trading value of 194 million baht on Thursday.
 
Mr. Surasak Seekhiew, Managing Director of Right Tunnelling Public Company Limited (RT), revealed that for the 2021 earnings outlook, the company has set a revenue growth target of 3,000 million baht in 2021, an increase of 20% from the year 2020. 70% of total revenue this year is expected to come from the current 3,552 million baht backlog, while another 30% will be from future projects.
Also, RT is confident that it will be the winner for the 72.9-billion baht Den Chai-Chiang Rai-Chiang Khong double-track railway project bidding as this project comprises tunnels with a total length of 22 kilometers and RT is an expert in the tunnel construction.
 
KTB Securities (Thailand) (KTBST) stated upgraded its target price on RT from ฿2.50/share to ฿3.00/share based on 2021 PER at 13x (11x previously), seeing good progression in RT’s ongoing projects, coupled with a high backlog on hand. KTBST expected RT to be the main candidate to acquire the dual track train Denchai-Chiang Rai-Chiang Khong project.
RT projected a revenue growth in 2021 by 20%, which was higher than KTBST estimation by 4%. Based on RT’s projection of 20%, the revenue in 2021 would be 3.4 billions baht. KTBST stated that it could revise up the estimation once RT acquired more projects.
 