JWD Infologistics
JWD: Expect Solid Earnings Growth from 2Q22 and Onwards to 2H22
Equity Bottom-Up
170 Views, 11 May 2022 11:41
EXECUTIVE SUMMARY
- We reiterate a BUY rating but trim down target price to Bt20.0 (Previous TP: Bt22.20) after revised down earnings in 2022E by 10%.The target derived from 37xPE’22E, its +1.0 S.D.
- Expect solid performance for logistics and warehouse businesses from 2Q22 onward to 2H22
- Anticipate shared profit from Transimex(Vietnam)to gradually drop from high base in 4Q21which will be pressured by decreasing global freight rate but the impact is likely to be offset with profit
detail (16-minute read)
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