MASTER Style Plc. (MASTER): Recovery Horizon Extended To 2H26E - Neutral (12M Fwd Fair Value Bt8.40)
We are downgrading our rating to Neutral (from Outperform) due to limited valuation upside. We expect a gradual earnings recovery in 2026E.
83 Views
MASTER STYLE Plc. (MASTER): 2025: A Tough Year—Patience Needed For Recovery
2025 was a tough year for MASTER, as persistent headwinds drove our 2025E net profit forecast down 60% YoY, with only a modest ~6% recovery...
126 Views
MASTER STYLE Plc. (MASTER): Earnings To Recover In 4Q25E On Seasonality
MASTER’s 3Q25 net profit dropped 18% QoQ and 60% YoY to Bt43mn, 6% below our estimate due to higher-than-expected service costs.
133 Views
MASTER STYLE Plc. (MASTER): When Beauty Can Wait…
We maintain a Buy rating as the stock remains fundamentally attractive, with 19% upside to the new fair value (FV) of Bt14.80, revised down from...
205 Views
MASTER STYLE Plc. (MASTER): Weak 2Q25 Earnings; Eyes On 4Q25E
We maintain a Buy rating as the share price still implies 38% upside compared to the new fair value (FV) of Bt18.30 (previously Bt17.20).
217 Views