DTAC Gains 5% on Recovery Hopes after Thailand Reopens to Vaccinated Tourists

The share price of Total Access Communication Public Company Limited (DTAC) rose THB2.00/share or 5.13% to THB41/share, with a trading value of THB 2,357 million.

Maybank Kim Eng Securities (Thailand) (MBKET) anticipates an improvement in DTAC’s operating performance in 4Q21. After the country’s lockdown is lifted and tourists return, the average revenue per user (ARPU) and profitability ratios are likely to recover. Competition in the telecommunications market is projected to ease in the medium term. Recommend “BUY” with a THB45.10 target price.