ERW : Recovery Phase Remain Weak
Yesterday analyst meeting came out with a negative tone. We expect weak recovery in remaining quarters through late 2021 given uncertainty about...
387 Views
ERW : 2Q20 Will Be the Bottom Quarter
We downgrade from BUY to HOLD rating and cut our target price by 39% to Bt2.63 derived from 26.7xPE’21E, which is equal to -1SD of its three-year...
284 Views
ERW : COVID-19 Significantly Impact to 2020 Earnings
ERW’s 4Q19 net profit was at Bt176m (+6%YoY, +312%QoQ). The company reported 2019 net profit of Bt446m(-17%YoY).• An increase in revenue both YoY...
498 Views
ERW: Pure Hotel Player in Key Strategic Locations
We initiate coverage of ERW with a BUY rating and a 2020 target price of Bt7.97, based on 32.4xPE’20E, which represents a relative PE of 1.31x to...
670 Views
S: Outshines Thai Property Peers on High Recurring Profit
We initiate coverage of S with a BUY rating, based on a target price of Bt4.2 derived from a sum-of-the-parts (SOTP) methodology and implying...
709 Views