We initiate our coverage of TTB with a BUY rating and a target price of Bt1.60. Our valuation is derived from the Gordon growth model (ROE 6.5%, growth 2%), implying 0.7x PBV’22E
SUMMARY
(Sign Up to Access)
Get started on the Smartkarma Research Network with a complimentary Preview Pass to:
Unlock all research summaries
Follow top, independent analysts
Receive personalised alerts and emails
Access Briefings, Analytics, and Events
Upgrade anytime to our paid plans for full-length research, real-time analyst discussions, and more.
Join a thriving community of 45,000+ investors, including the top global asset managers managing over $13trn in assets.