Exotic Food Public Company Limited (SET: XO) rose THB1.00/share or 5.35% to THB19.70/share in the morning trades on Wednesday, with a trading value of THB123 million.
Capital Nomura Securities (CNS) anticipates a 38% increase in XO’s profit in 4Q21, as global supply-chain problems have begun to ease since November, and there is still a plenty of demand for sauces. Profit for the full year is expected to be THB445 million, up 40% over the year, while earnings in 2022 are predicted to be THB496 million, up 12% year on year.
XO’s share price is currently trading at 16x 2021 PER, far less than average of its peers, which trades at 25-30x, and ROE at 40%. Annual dividend yields range between 4-5%. recommends “BUY” with a target price of THB23.30.