MINT Gains 4% on 2Q Optimism as Europe Enters Peak Season

Minor International Pcl. (SET: MINT) stock rose by 4% on Thursday as investors looked ahead to the company’s robust performance in 2Q23, which would be bolstered by the peak season in Europe.

As of 12.30 hrs. Bangkok time, the share price of MINT rose THB1.25/share, or 3.94%, to THB33.00/share, with a trading value of THB230 million.

Trinity Securities forecasts that MINT will have a strong second quarter of 2023 due to the return of Chinese tourists and the increased demand for travel in Europe during the high season. The months of April through August are often the busiest time for tourists in Europe. MINT’s NH Hotel Group operates over 380 hotels in Europe, with an occupancy rate of 70% at the end of April and a higher average daily rate (ADR) due to rising demand. 

Even though it’s off season, the tourism industries in Thailand and the Maldives are on the recovery. Recommending “BUY” with a target price of THB40.50.