Thai Equity - Bottom-up - Equities, Pi Securities PCL, Thailand

Pi Research

Thai Equity - Bottom-up - Equities

Leading, full-service investment firm in Thailand

Pi Securities PCL, Thailand

Pi Securities is a well known securities company with 40 years experience in the industry, serving more than 60,000 clients. We offer one - stop service providing full range of financial products and services including extensive Brokerage, Proprietary Trading (Equities and Bonds), Advisory Services, Structured Products.

Moreover, our new research team tailored for institutional clients to focus on mid to small cap of Thai equities and trading strategies. Our services offered to our premium clients also include arrangement of company or site visits to with the managements of Thai listed companies.

Note: Effective on 1 March 2022, Country Group Securities PCL changed its name to Pi Securities

Equity Bottom-Up

<ul>
<li>We initiate coverage of SIRI with a BUY rating and a target price of  Bt2.11, derived from 7.2xPE'23, or -0.5SD of its 5-year trading average,Our rating reflects its high potential </li>
<li>High potential growth in the low-rise segment SIRI has strong potential to expand its low-rise revenue in the long term, backed by (1)its popular luxury products, and (2) strong presales</li>
<li>Huge project launch to support long-term growth SIRI plans to launch a huge number of projects in 2022-24 with a total value of about Bt150bn,mainly in the high-end low-rise segment.</li>
</ul>


We initiate coverage of SIRI with a BUY rating and a target price of  Bt2.11, derived from 7.2xPE'23, or -0.5SD of its 5-year trading average,Our rating reflects its high potential 
High potential growth in the low-rise segment SIRI has strong potential to expand its low-rise revenue in the long term, backed by (1)its popular luxury products, and (2) strong presales
Huge project launch to support long-term growth SIRI plans to launch a huge number of projects in 2022-24 with a total value of about Bt150bn,mainly in the high-end low-rise segment.


Sansiri Public

SIRI : A Leader in Luxury Housing