In today’s briefing:
- GGC : Challenging Outlook in 2H22
GGC : Challenging Outlook in 2H22
- We reiterate our SELL rating with a TP of Bt12.8 derived from 1.2BV’23E.Given cloudy 2H22 and 2023E earnings trend from weaker CPO and CPKO prices off seasonal effects and oversupply
- Neutral tone from the analyst meeting.We foresee a challenging tide in 2H22 growth momentum due to seasonal rout in 3Q22 amid the Thai government to keep the B5 blending ratio
- Nakhonsawan Bio-complex on plan Nakhonsawan Bio-complex phase I is expected to COD in 1Q23, so we do see potential upside in the long term. Note that the Nakonsawan Bio-complex
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