MAJOR Jumps 7%, Analyst Expects Earnings Improvement from 4Q Onwards, Giving TP of ฿26.75
MAJOR rose ฿1.20/share or 6.63% to ฿19.30/share, analyst reiterates the rating of Outperform on the back of turnaround to profit from 4Q21 onward, and continued solid profit growth in 2022 along with strong blockbusters
MAJOR rose ฿1.20/share or 6.63% to ฿19.30/share, analyst reiterates the rating of Outperform on the back of turnaround to profit from 4Q21 onward, and continued solid profit growth in 2022 along with strong blockbusters
23 ส.ค. 2564

The share price of Major Cineplex Group Public Company Limited (MAJOR) rose ฿1.20/share or 6.63% to ฿19.30/share as of 15:27 local time in Thailand, with a trading value of 342 million baht. 
KGI Securities (KGI) in its research published on August 17, reiterated the rating of Outperform on MAJOR with a 2022 target price 26.75 baht (DCF), backed by i) turnaround to profit from 4Q21 onward, and ii) continued solid profit growth in 2022 along with strong blockbusters. MAJOR earlier reported a 2Q21 net loss of 218 million baht, worsening QoQ due to slowdown in revenue from all segments, particularly cinema, along with fewer guests of only 1.0 million (766% QoQ), but improving from a net loss of 475 million baht in 2Q20 thanks to greater revenue from most segments.  
Though KGI foresees 3Q21 earnings being the bottom for this year as all screens are closed since early August 2021, KGI is maintaining its core loss forecasts at 489 million baht for 2021 and turning to core profit of 588 million baht in 2022, as it expects strong profit growth from 4Q21 onward.   