Prior to the analyst meeting today in the afternoon for SISB Public Company Limited (SET: SISB), Finansia Syrus Securities (FSS) wrote in the research expecting an increase in its student target. The latest data showed that SISB had 3,044 students at the end of 3Q22, a record high. Also, it was close to its 2022 target of 3,100 students.
FSS expected continued Q-Q and Y-Y profit growth in 4Q22 as it should make the 2022 profit jump by 68% Y-Y. In 2023, the earnings would surge by 42% due to the inauguration of a new campus in Nontaburi and Rayong. Also, SISB has changed the depreciation method for its new building.
In addition, FSS gave a “BUY” rating on SISB with a target price at THB21.20 per share. The share price is trading at THB20.50 per share before the closing in the afternoon session on December 7. It gained 115% so far this year after the situation of Covid-19 in Thailand eased and students were able to return to on-site lessons.
