In today’s briefing:
- BEM: Expect 4Q21 Earnings to Recover Strongly and Onward to 2022
BEM: Expect 4Q21 Earnings to Recover Strongly and Onward to 2022
- We maintain BEM with a BUY rating and a target price of Bt10.30 derived from SOTP methodology, which is equivalent to 51.5xPE’22E.
- We expect the company to report net profit of Bt290m in 4Q21. (+168%QoQ -49%YoY), the highest level in the past three quarters.
- YoY contraction will be mainly due to impact from 3rd wave of COVID-19 widespread, which trimmed down average daily toll traffic to 984k trips/day(-13%YoY +47%QoQ) and MRT ridership to 175k
Before it’s here, it’s on Smartkarma
