TWPC: Headwinds from Strengthen Baht and Raw Material Price
We downgrade our recommendation on TWPC to HOLD, from BUY, with new 2020E target price at Bt4.14, pegged to 12.7xPE’20E, which is 3-years trading...
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TWPC: Sign of Recovery from 4Q18 Earnings
TWPC 4Q18 recurring profit was Bt86m (+135%YoY, +975%QoQ). The easing in cassava supply help supporting TWPC both selling volume and profitability....
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TWPC: It Is when to Buy Commodity-Related Stock
We maintain our BUY rating on TWPC with a new 2019E target price of Bt10.0, based on 16.5xPE’9E, which is its 3-year trading average. We reiterate...
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TWPC: Weak 3Q18 from Short-Term Circumstance
TWPC posted disappointed 3Q18 net profit of Bt5m, plunged from Bt109m in 3Q17 and Bt47m in 2Q18. The 9M18 result accounts for 20% of our full-year...
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TWPC: Another Weak Quarter but It Should Turnaround Soon
TWPC reported 1Q18 net profit of Bt47m was (-55% YoY, -14.0% QoQ). The 1H18 result was accounts for 819.5% of our full-year forecast. 2Q18 net...
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