Analysts Expect BAM’s 3Q Profit of ฿1.76Bn after Booking ฿1.8Bn of DTA, Giving TP at ฿28
Analysts Expect BAM’s 3Q Profit of ฿1.76Bn after Booking ฿1.8Bn of DTA, Giving TP at ฿28
Analysts Expect BAM’s 3Q Profit of ฿1.76Bn after Booking ฿1.8Bn of DTA, Giving TP at ฿28
9 พ.ย. 2563

Bangkok Commercial Asset Management Public Company Limited (BAM) is expected to report its 3Q earnings on November 13, 2020, the source forecasted a net profit of 1.76 billion baht, an increase of 100% YoY, making a new high for its profit. The increase is mainly due to a recognition of deferred tax asset (DTA) of approx. 1.8 billion baht for the quarter, while expecting to book a billion baht from asset selling in the fourth quarter of 2020. Analysts have given a target price at ฿28.00/share.
 
KGI Securities (Thailand) estimated BAM to report 3Q20 earnings of 1.76 billion baht, an increase of 99.78% YoY, including booking deferred tax assets of around 1.5 billion baht. Excluding the deferred tax asset, pre-tax profit should be around 261 million baht. Stating that overwhelming NPLs imply asset management is a blue ocean business, thus KGI rate BAM Neutral and recommend investors wait for a good entry point, giving a target price at ฿28.00/share.
 
Capital Nomura Securities expected a drastic rebound for BAM in 3Q20, saying the profit slump has bottomed out due to a support from improving NPL and cash collection. CNS reiterated its “BUY” recommendation on BAM with a target price of ฿27.25/share 
 