In today’s briefing:
- SAPPE: MOGU MOGU Boost Earnings Momentum in 2022-24
SAPPE: MOGU MOGU Boost Earnings Momentum in 2022-24
- We reiterate our BUY rating for SAPPE with a target price of Bt32.0 based on 22xPE’22E,close to its five-years average trading range and average of Asia-ex Japan consumer staple sector
- SAPPE is beverage exporter with 65% of sales from oversea. In 2021, logistic cost surged to Bt341m (+251%YoY) as it provides a freight contract for distributors and pass most
- Average container freight decreased to US$8800 per 40ft box in March 2022 from it peak at US$10,000 per 40ft box in Sep 2021. We believe freight rate to continues
Before it’s here, it’s on Smartkarma
