Logistics Stocks Rise on Expectations of Continuing Record Profits in 2Q21
Logistics stocks edged higher in the morning session on June 1, 2021 on expectations of continuing record profits in 2Q21.
Logistics stocks edged higher in the morning session on June 1, 2021 on expectations of continuing record profits in 2Q21.
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Logistics stocks edged higher in the morning session on June 1, 2021. As of 11:25, the share price of Sonic Interfreight (SONIC) rose ฿0.64/share or 16.67% to ฿4.48/share with a trading value of 591 million baht.
The share price of Wice Logistics (WICE) rose ฿0.75/share or 7.94% to ฿10.20/share with a trading value of 617 million baht.
The share price of Begistics (B) rose ฿0.06/share or 9.38% to ฿0.70/share with a trading value of 117 million baht.
 
Maybank Kim Eng (Maybank) in this morning’s session, there is continuous speculation in the logistics sector. However, investors will tend to favor stocks whose valuations are increasing. For instance, WICE and SONIC are traded at a P/E ratio of around 20x. While others in the logistics sector have increased their trading P/E to 30-40x, leading some to slow down.
Following the first quarter of 1Q21 results, many logistics companies reported record profits, and are likely to continue reporting all-time high profits in 2Q21 as the global economy recovers, causing the logistics industry to continue seeing gains.