In today’s briefing:
- DTAC/TRUE Merger: Stocks Trading Near Their VTO Prices
- KBANK: More Focusing on Growth
DTAC/TRUE Merger: Stocks Trading Near Their VTO Prices
- Total Access Communication (DTAC TB) and True Corp Pcl (TRUE TB) have moved up over the last 8 trading session to trade at or closer to their VTO prices.
- Trading at the VTO price, we recommend selling Total Access Communication (DTAC TB) rather than run the risk of deal break or waiting 3-5 months to be paid out.
- A safer trade is to buy True Corp Pcl (TRUE TB) and sell Total Access Communication (DTAC TB). There will be index trades to do if the merger is approved.
KBANK: More Focusing on Growth
- We reiterate our BUY rating with a new target price of Bt174. Our BUY call reflects (1) steady growth ahead from improving economic recovery; (2) adequate reserves against new NPLs
- Focus on the quality of growth and NPL management ahead.
- The bank guided lending growth of 6-8% YoY in 2022 with an emphasis on a rise in retail loans and SME loans.
Before it’s here, it’s on Smartkarma
