GULF: 4Q21 Earnings Grew from INTUCH Profit Share
The 4Q21 net profit rose to an all time high of Bt3.0bn (+65 YoY, +92% QoQ). excluding FX and other extraordinary items the recurring profit was...
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GULF: INTUCH to Be Treated Under Equity Method 4Q21 Onwards
GULF decided to treat INTUCH in its financial statement using the equity method. We see the decision to be appropriate given GULF’s net profit will...
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GULF: Huge Dividend Gain from INTUCH in 3Q21
We maintain the BUY recommendation based on a target price of Bt43.0 derived using SOTP methodology, implying 57x PE’22E.
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3Q21 Road Show
CGS's roadshow : Performance review of CGS ‘s stock picks, CGS Strategy, Our stock picks for 3Q21, Power sector outlook 3Q21
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GULF: The Energy Giant to Acquire Telecom Big Shot
We revise up the target price to Bt43.0 (from previous Bt41.4) incorporating the Bt1.6 from additional stake in INTUCH. Our valuation is derived...
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