In today’s briefing:
- WICE: Expect Strong Earnings Growth Momentum to Persist in 2022E
WICE: Expect Strong Earnings Growth Momentum to Persist in 2022E
- We maintain WICE with a BUY rating while roll over target price to Bt27.10 (previous TP:16.70) ,derived from 27.4xPE’22E ( +0.5 S.D. five-year average), implies 40% discount to Thai transportation
- We expect strong earnings growth momentum to persist in 2022E supported by; 1.) high sea freight rate anticipated to last until mid 2H22 (sea freight contributes 48% of total revenue
- We expect WICE to report 4Q21 net profit at Bt167m (+182%YoY and +3%QoQ), the highest level since inception
Before it’s here, it’s on Smartkarma
