The share price of Charoen Pokphand Foods Public Company Limited (SET: CPF) rose THB1.10/share or 4.60% to THB25.00/share as of 15.56 hrs. local time in Thailand, with a trading value of THB944 million.
Phillip Securities recommends “BUY” on CPF, citing a gradual rise in global meat prices, which will boost CPF’s earnings in 4Q21. Additionally, CPF earns an extra THB66 million from the sale of Siam Makro (SET: MAKRO).
Phillip also anticipates a recovery in CPF’s operations in 2022 as selling prices of meat both domestically and globally pick up and raw material prices increase after public spending returns after the COVID-19 situation improves.