COM7 Edges 2% Higher Following Expectation for Stronger 4Q23 Net Profit

On Wednesday at 11:08 AM (Bangkok time), the share price of Com7 Public Company Limited (SET: COM7) surged by 1.82% or THB 0.40 to THB 22.40 per share, with a trading value of THB 238.8 million.

DBS Vickers Securities (Thailand) expected the net profit of the company in 4Q23 to grow stronger when compared to the third quarter, as consumers spent more money in the quarter, and the company reopened 40 of its branches after the maintenance had been completed. Meanwhile, the analyst also expected the company’s profit to be similar to the previous year, as Easy E-receipt shifted the buy power from consumers to the period of 1Q24, and the marketing costs also increased.

The overall net profit for 2023 was expected to be similar to 2022, while 2024 was expected to grow by 17%.

The analyst gave a “BUY” recommendation to COM7 at a base price of THB 28.30 per share.