PLANB Extends Gains to Fourth Day, Moving Closer to Analyst’s Target Price at THB9.10

The share price of Plan B Media Public Company (SET: PLANB) as of 10:37 am. Bangkok time on Thursday was at THB 8.40 baht, increased 0.40 baht or 4.35%. The highest price was 8.60 baht and the lowest was 8.00 baht with a trading value of 331.22 million baht. PLANB’s share price continued to increase for the fourth consecutive days, from January 6 at 7.50 baht. The share price gained 12% in this time span. 

Krungsri Securities gave a “BUY” recommendation on PLANB with target price at THB 9.10 per share. Although the share price rose in recent days, Krungsri Securities stated that the price is not too cheap like it used to be with the PE 2022 at 34x, meaning that EPS will grow 33% CARG 2022-2024. However, the performance outlook remains strong.

Krungsri Securities expect net profit in Q4/22 at 208 million baht, representing an increase by 71% YoY and rose 20% QoQ, following an increase in utilization rate, which will also boost its profit momentum as well.