TASCO: Crude Price Hike to Pressure 2022 Earnings
Downgrade to SELL from HOLD rating and cut TP by 41% to Bt14, derived from 1.4xPBV’22E, Asia ex-Japan Materials sector. We believe the valuation...
295 Views
TASCO: 4Q21 Earnings on Track to Bottom-Out
Maintain HOLD rating with a TP of Bt19.80 based on 1.9xPBV’22E, -1SD of its 3-years trailing average.Our rating factors in weak 22E outlook, erode...
178 Views
TASCO: 4Q21 Earnings on Solid Recovery Path
Analyst meeting came out with a neutral tone. We expect 4Q21 net profit to recover QoQ, supported by higher demand volume and asphalt price, driven...
187 Views
TASCO: 3Q21 Earnings Poised to Hit near Bottom
We expect 3Q21 earnings at Bt435mn (-77% YoY, -50QoQ), caused by the YoY and QoQ drop in both sales volume and asphalt margin.
117 Views
TASCO: Focusing on Retail Market After Crude Switching
Analyst meeting came out with a neutral tone. The company started to procure alternative crudes up to 2 sources and is shifting to retail market.
190 Views