Stock dimension – TRUE by Krungsri Patanasin Securities indicates that the research department is ‘neutral’ towards TRUE’s Q2/23F earnings outlook. Normalized loss is expected to be reduced to -950 million baht, improved from Q1/23 at -1.85 thousand. minus. support from monthly customers to recover and electricity costs with SG&A
However, the research department is reviewing this year’s earnings down from restructuring costs and the positive effects of delayed-than-expected mergers and acquisitions (synergies). But maintaining our positive view on 2H23F, expected to make a strong recovery hh from service income to grow back on i) full-time declining competition and ii) cross-selling. and doing refinance. However, the valuation is in the investment zone. The share price is trading -26% lower than the pre-merger price. We therefore recommend a “BUY” target of 9 baht/share.
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2023-07-01 03:38:46
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