M: Rapid SSSG Recovery with Potential Growth from Seafood Restaurant
We came out with a positive tone after yesterday analyst meeting driven by MK’SSSG recovery rapidly after lockdown easing. We expect COVID-19...
307 Views
M: Expect 2Q20 Performance to Bottom Out
We maintain HOLD rating but cut our target price by 9% to Bt50 (25xPE’21E, a 20% premium to the Asia ex-Japan consumer staple sector). We expect...
291 Views
CBG: Valuation Running Ahead of Fundamentals
We initiate coverage of CBG with a HOLD rating, based on a target price of Bt89, which is derived from 33xPE’20E, close to the average of the...
807 Views
M: 1Q19 Earnings Reach a Record High
M reported 1Q19 net profit of Bt710m (+17%YoY, +12.3%QoQ) and in line with our expectation. The YoY growth was caused by better 7.5% sales growth...
428 Views
M: Big-Three Chain Restaurant Giant Ramps up Brands and Networks
We initiate coverage on M with a BUY rating, based on a target price of Bt96 and derived from 31xPE’18E, which is the +2SD of three-year average...
186 Views