In today’s briefing:
- CHG: Pivot Focus to Organic Growth in 2022
CHG: Pivot Focus to Organic Growth in 2022
- Upgrade to BUY with a TP of Bt3.9, based on 30xPE’22E,which is its pre-COVID bottom level.The 27% drop in share price from Jul 21 peak priced in concern over 3Q21
- Expect 4Q21 earnings at Bt854m (+234%YoY,-45%QoQ), decline due to weak revenue growth, and narrow margin.
- Foresee momentum in 1Q22 arising from the Omicron variant,given the amount of infection patients grew roughly to 7-13k cases per day.Along with vaccines rollout, which should be realize in 1Q22
Before it’s here, it’s on Smartkarma