BJC: Expected Strong Recovery in 2021
On the back of 42% earnings recovery in 2021, we maintain our BUY rating and roll over target price to Bt55 (up from previous TP of Bt43) based on...
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CRC: 2Q20 Earnings Will Be the Bottom Quarter
We expect CRC’s earnings should recover from 3Q20E onwards given reopening all department stores in 18 May. We maintain our BUY rating with the...
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CRC: Leading Multi-Format Retailer in Thailand
We initiate coverage of CRC with a BUY rating, based on a target price of Bt45.5, which is derived from a DCF methodology (12% WACC, 2% TG). Our...
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BJC: More Positive on Modern Retail Business
Yesterday analyst meeting came out with a positive tone. We maintain our BUY rating with a target price of Bt61 based on DCF, implying 30xPE’20E,...
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