On Wednesday, the share price of Ditto (Thailand) Public Company Limited (SET: DITTO) at the time of 3:42 p.m. was at THB 13.30, a THB 2.60 or 24.30% increase with a total trading value of THB 396.38 million.
KGI Securities (Thailand) noted that DITTO’s positive sentiment was due to the upcoming debut of the Blu Green Token, an investment token linked to carbon credits from a 17,000-rai mangrove reforestation project (which accounts for 10% of the company’s held rights). This project will serve as a benchmark for carbon credit pricing for mangrove reforestation businesses covering more than 170,000 rai.
At the same time, positive sentiment also comes from the progress in pushing forward the Climate Change Act, which is expected to be clarified within next year.
DITTO’s valuation remained at an undemanding level, with a forward P/E ratio of 10.3 times and an estimated dividend yield of about 5%. The consensus target price is set at THB 16 per share.
KGI also assessed that DITTP’s price is showing signs of a rebound and has the potential to test the 200-day moving average. The support level is set at THB 10.40, with resistance level at THB 11.00–11.40. Should the price surpass this range, the next resistance will be around THB 12.00. The stop loss point is set at THB 10.10.
