TASCO: 4Q21 Earnings on Track to Bottom-Out
Maintain HOLD rating with a TP of Bt19.80 based on 1.9xPBV’22E, -1SD of its 3-years trailing average.Our rating factors in weak 22E outlook, erode...
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TASCO: 4Q21 Earnings on Solid Recovery Path
Analyst meeting came out with a neutral tone. We expect 4Q21 net profit to recover QoQ, supported by higher demand volume and asphalt price, driven...
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TASCO: 3Q21 Earnings Poised to Hit near Bottom
We expect 3Q21 earnings at Bt435mn (-77% YoY, -50QoQ), caused by the YoY and QoQ drop in both sales volume and asphalt margin.
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TASCO: Focusing on Retail Market After Crude Switching
Analyst meeting came out with a neutral tone. The company started to procure alternative crudes up to 2 sources and is shifting to retail market.
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TASCO: Revise Earnings up Thanks to New Crude Sourcing
The company is now able to procure alternative crudes, starting in 1Q21. Meanwhile, asphalt demand remains solid in 4Q20. we expect the company to...
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