The share price of Global Power Synergy Public Company Limited (SET: GPSC) closed the morning session on Monday at THB 70.50 per share, increased THB 2.00 or 2.92%, the highest price was THB 71 and the lowest was THB 67.50, with a trading value of 733 million baht.
Nomura Securities noted in an analysis today that it gave a “BUY” recommendation on GPSC with a target price at THB 84 per share.
Nomura said that GPSC as the operator and distributor of power, steam and utilities has a consistent business operation and is also supported by the battery business. The firm forecast that the profit of 2023 would be 6,550 million baht from a loss of 213 million baht in 2021. The potential increase in 2023 performance is expected to be due to the profit margin that increased along with the rise in electricity fee while the power cost decreased. Moreover, GPSC also offered 2-3% dividend yields.