On Tuesday, the share price of Gunkul Engineering Public Company Limited (SET: GUNKUL) at the time 2:51 p.m. was at THB 2.74, a THB 0.20 or 7.87% increase with a total trading value of THB 574.36 million.
KGI Securities (Thailand) has set a target price for GUNKUL at THB 2.91 per share, with the following perspectives:
- Technical Aspect: The price pattern is assessed as sideways-up, with support level at THB 2.48 per share and resistance at THB 2.58–2.70 per share. If the price can break through this resistance range, there is an opportunity for the price to reach the next resistance at around THB 2.80. The stop loss is recommended at THB 2.40.
- Fundamental Aspect: There is a positive sentiment from the solar energy business, with the analyst firm expecting that the company’s solar roof business, “GRoof,” will benefit from government measures supporting solar roof installations, such as tax incentives and low-interest loans. Bloomberg’s estimates also reflect upside to earnings projections.
- Valuation: There remains upside potential, as the forward P/E ratio stands at 12.7x, below the average of 15x, and the dividend yield is at 4.7%.
