bullish
SCGP: Growing Through M&P as Plan but Stock Is Expensive
We downgrade our recommendation to SELL rating, from HOLD, with unchanged 2022E target price of Bt51.00, derived from 21.3x PE’22E. We like the company’s market position in Southeast Asia
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Pi Securities PCL, Thailand
Leading, full-service investment firm in Thailand
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- SCGP: 3Q21 Result Dip QoQ, 10% Below Our Forecast27 Oct 2021
- SCGP: Expect 3Q21 Earnings to Soften QoQ Due to Lockdown Impact14 Oct 2021
- SCGP: On Track to Grow but Hiccup over Paper Spread in 2Q2129 Jul 2021
- SCGP: Benefiting from Supply Shortage in 1H2128 Apr 2021
- SCGP: On-Going Expansion Through Merger & Partnership27 Jan 2021
- Leading Market Position Reflected in Valuation30 Dec 2020
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