AWC: Anticipate Slow Recovery in Hospitality Business
We are positive toward AWC’s speedy earnings recovery after lockdown relative to other hospitality related stock in Thailand given its high degree...
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AWC: Group EBITDA Already Turned Positive in 3Q20
•AWC report net loss of Bt620m in 3Q20. A moderate recovery from all time low level in 2Q20 which driven mainly by hospitality revenue (+239%QoQ)...
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AWC: Positive Sign for Domestic Tourism Industry
We upgrade rating for AWC to BUY from HOLD with expectation for gradual recovery in earnings from 4Q20 onwards after reported net loss in 2Q20. We...
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AWC: Fastest-Growing Hotel Chain in Thailand
We initiate coverage of AWC with a HOLD rating, based on a target price of Bt4.90, which is derived from a DCF methodology (WACC of 6.0%, terminal...
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S: Better Outlook on Its 2H19 Performance
Site visit at The ESSE at Singha Complex and The ESSE Sukhumvit 36 came out with a positive tone. We maintain BUY rating on S with a 2019 target...
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