In today’s briefing:
- Bangkok Bank (SET:BBL) Downgraded on Thailand-Cambodia Suspension of Peace Accord
Bangkok Bank (SET:BBL) Downgraded on Thailand-Cambodia Suspension of Peace Accord
- We turn cautious on our sole positive Thai recommendation Bangkok Bank, downgrading it to neutral from buy, despite its very attractive value attributes
- We believe that Thailand’s unilateral suspension of the peace accord in the Thailand-Cambodia conflict is likely to be negative for sentiment towards Thai equities, including banks, in the short term
- Consequently, in the worsening investor climate, we do not expect Bangkok Bank shares to benefit from a re-rating over the short term
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