InnovestX Securities (INVX) stated that the latest update from the investors relation of Airports of Thailand Public Company Limited (SET: AOT) indicates that the payment of Minimum Guarantee from King Power has returned to normal as the company recently paid the payment for its duty-free operations for May.
INVX maintains “Neutral” at a target price of THB47.00 per share. The firm sees this as a short-term positive sentiment, while still reiterating its concern on Thai tourism slowing down due to stagnant economic outlook. Due to this reason, INVX would continue to monitor the development of concessionaires payment ability to AOT as well as the number of passengers, which is a main factor for AOT’s growth.
The share price of AOT surged as much as 11.7% to THB42.75 per share at the open on Friday, but pared some gains to up 4% as the session progressed.
