ADVANC: 3Q20 Result Was More than Ten-Quarters Low
ADVANC reported 3Q20 net profit of Bt6.5bn (-26%YoY, -7%QoQ). The 9M20 result was slightly lower than our expectations and accounted for 71% of our...
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ADVANC: 2Q20 Performance Hindered by a Drop in ARPU
ADVANC reported 2Q20 net profit of Bt7bn(-10%YoY, +4%QoQ). The 1H20 result was in-line and 48% of our full year forecast. We maintain BUY rating...
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ADVANC: 2Q20 Will Be the Lowest Quarter
We cut our target price by 2% to Bt233.2 to factor in slight downward revision in our earnings forecast. Our TP is derived from a DCF methodology...
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ADVANC: The Best Mobile Operator in Thailand
We initiate coverage of ADVANC with a BUY rating, based on a target price of Bt236.5, which is derived from a DCF methodology (WACC of 10.7% and...
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