In today’s briefing:
- KKP: Growth and Dividend Plays
KKP: Growth and Dividend Plays
- We initiate coverage of KKP with a BUY rating and a target price of Bt79. Our valuation is derived from a Gordon growth model (ROE 13.5%, growth 2%),implying 1.2x PBV’22E
- Steady growth ahead on continued lending growth and a potential reduction in credit costs
- Resilient asset quality and high loan loss reserves against NPLs
Before it’s here, it’s on Smartkarma
