PLANB Jumps 5% as Analysts Expects Limited Impact from Strict Measures on Crypto-Related Ads

The share price of Plan B Media Public Company Limited (SET: PLANB) rose THB0.40 or 5.06% to close the morning session on April 1, 2022, at THB8.30 per share. 


Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on Plan B Media Public Company Limited (SET: PLANB) with a target price at THB9.60 per share.

MST stated that the target of utilisation rate of at least 60% is far from the break-even point of 40%, ensuring that PLANB has closed its doors for losses this year. The rate bottomed out in 3Q21 at 34.9% and rebounded to 54.2% in 4Q21. Despite 1Q22 earnings may weaken due to Omicron, it should speed up in 2Q22 from a low base in 1Q21, double growth in 1Q22.

Tisco Securities has also given a “BUY” recommendation on PLANB, believing that the strict measures on using crypto coins by the Thai central bank and the poll by SEC on advertising cryptocurrency will have a slight impact on the company. Cryptocurrency-related advertising accounted for only 6-9% of PLANB’s revenue, and only 1% of those advertisements are not upto the SEC’s standard.

TISCO gave a target price for PLANB at THB10.00 per share, expecting the advertisement business will recover after the easing lockdown, coupled with its expansion on OOH business, including those in 7-Eleven.