bullish
ERW: High Fixed Costs Pressured 1Q21 Earnings
ERW’s 1Q21 core loss was Bt492m, compared to core loss of Bt103m in 1Q20 and core loss of Bt344m in 4Q20. Given the increase of the paid-up capital, we downgrade our recommendation to SELL rating,
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Pi Securities PCL, Thailand
Leading, full-service investment firm in Thailand
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