The share price of Britannia Public Company Limited (SET: BRI) rose nearly 6% to close the morning session on Tuesday at THB10.70 per share.
ASL Securities (ASL) wrote in a note, expecting BRI to record 338 million baht of net profit in the fourth quarter, which would be its highest of the year. The net profit for the quarter represents a 28.9% QoQ and 125.2% YoY growth, following the recognition of its backlog. ASL gave a “BUY” recommendation for BRI with a target price at THB12.00 per share.
Maybank Securities (Thailand) (MST) also expected to see growth in the fourth quarter as well, boosted by construction activity returning to normal and transfers that were delayed from the third quarter.
Moreover, MST expected 3-5 projects to launch in 4Q22, while the company offers a favourable dividend yield at 6%. Thus, MST gave a “BUY” recommendation with a target price at THB13.00 per share.