Minor International
MINT: Hotel Segment’s Recovery Will Boost 2022 Growth
Equity Bottom-Up
310 Views, 20 May 2022 12:24
EXECUTIVE SUMMARY
- Analyst meeting came out with a positive tone regarding 2022 outlook.We maintain BUY rating with a target price of Bt38.0,based DCF method (WACC of 8% and terminal growth of 2%)
- Positive 2022outlook as we expect the hotel industry to make a strong come back in 2022due to vaccine roll outs and easing of international travel restrictions,making the earnings positive for2022
- Since 1Q is typically the lowest travel seasonality,we expect the revenue from hotels to grow for next 3 quarters (around 50% by 4Q22), contributing around 75% of the total revenue.
detail (14-minute read)
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Pi Securities PCL, Thailand
Leading, full-service investment firm in Thailand
Pi Securities is a well known securities company with 40 years experience in the industry, serving more than 60,000 clie...
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