ORI Edges Higher after Acquiring ERW’s Hotels, Brokers Recommend “BUY” at TP THB13.20

The share price of Origin Property Public Company Limited (SET: ORI) rose 2.73% at the opening on Tuesday after the company announced this morning of a successful completion of the transaction to acquire three of Erawan Group’s hotels for the total purchase price of THB 1,050,000,000.

The share price rose to THB11.30 per share or 2.73% before edging slightly lower from its higher to THB11.10 per share in late morning. 


According to Refinitiv, brokers expected ORI’s revenue in 2022 to increase slightly by 1.65%, but net profit is projected to increase 15%, while EBITDA is expected to grow 25% to 4,231 million baht.

Four out of four brokers recommend “BUY” on ORI with a consensus target price at THB13.20 per share.