The share price of Krungthai Card Public Company Limited (SET: KTC) rose THB2.00/share or 3.39% to THB61.00/share as of 12.00 hrs. local time in Thailand, with a trading value of THB568 million.
Maybank Securities (Thailand) (MST) stated that a rise in KTC’s share price during the morning session was due to gaining momentum from a recovery in domestic spending, which is already seeing a positive signal from people spending time outside, particularly in shopping malls, and KTC’s holding company Krung Thai Bank Plc. (SET: KTB) is preparing to launch multiple new campaigns this year.
In overview, KTC’s profits outlook is still solid, and the stock price is further boosted by a favorable sentiment from active investors. MST recommends a “BUY” rating on KTC with a target price of THB64.00.
