SCGP, the largest packaging provider in Thailand, saw a massive boost in its share price on Thursday after overseas analysts raised their price target for SCGP.
As of 10.57 a.m. Thai time, the share price of SCG Packaging Pcl. (SET: SCGP) rose THB2.50/share, or 4.85% to THB54.00, with a trading value of THB687 million.
According to Maybank Securities (Thailand) (MST), an increase in SCGP’s share price during Thursday’s early trading was bolstered by international analysts’ upward revisions to SCGP’s target price.
Based on the positive outlook for demand in packaging, MST suggests that SCGP share prices already reflect these risks and are attractive.