On Thursday at 11:19 AM (Bangkok time), the share price of SCB X Public Company Limited (SET: SCB) rose by 1.45% or THB 2.00 to THB 139.50, with a trading value of THB 3.01 billion.
Finansia Syrus Securities (FSS) gives a ‘Buy’ recommendation for SCB, setting a target price of THB 170 per share. In the near term, global bond yields remain elevated and inflationary risks persist; both factors are expected to continue supporting the banking sector, helping banks maintain their robust performance. This outlook is underpinned by the end of the interest rate downtrend and the potential for future rate increases.
Meanwhile, the brokerage notes that SCB’s share price has declined by 1% year-to-date, significantly underperforming the banking sector, which has seen an average gain of 12% over the same period. Nonetheless, the company continues to stand out due to its attractive dividend yield of approximately 8% per annum.
