RBF Gains 4% as Maybank Thailand Expects Lower Raw Material Costs to Boost Profit

The share price of R&B Food Supply Public Company Limited (SET: RBF) as of 10:38 BKK time on Tuesday was at THB14.40, increased THB0.60 or 4.35%. The highest price was THB14.60, and the lowest was THB14.10, with 109.54 million baht of turnover.

RBF’s prices continue to rise for three consecutive days since the closing price on January 5, which was THB12.80. It has increased by THB1.60 or 12% since then.

Maybank Securities (THAILAND) (MST) expected the outlook of Q4/22 will recover from the last quarter and the same quarter last year, supported by lower cost of wheat flour to boost gross profit, including the effort of market expansion across Asia will speed up the overseas’ income. MST gave a “BUY” recommendation on RBF with a target price at THB15.00 per share.