Pi Securities has released its analysis for Minor International Public Company Limited (SET: MINT) for the second quarter of 2025, maintaining a ‘Buy’ rating with a target price of THB 36 per share. The brokerage firm forecasts a significant quarter-on-quarter profit increase for MINT, with further potential for year-on-year growth.
This positive momentum is anticipated be due to three main drivers: first, a recovery in the hotel business, particularly in Europe as the region enters its peak travel season, leading to strong forward bookings since April and steadily rising average revenue per available room (RevPar); second, Thai hotels benefited from high occupancy and robust RevPar during the Songkran festival; and third, the restaurant segment is recovering close to last year’s level, notably driven by strong sales of the popular seasonal mango ice cream, whose launch was postponed from the first to the second quarter due to unusually prolonged cold weather earlier in the year.
Pi Securities believes these factors will meaningfully boost MINT’s revenue and profit in the second quarter, and the firm remains positive on the international tourism outlook for the second half of the year.
As of 10:39 AM (Bangkok time) on Friday, the share price of MINT rose by 0.41% or THB 0.10 to THB 24.40, with a trading value of THB 39.25 million.
