Sappe Pcl

SAPPE: Targets to Hit Revenue at Bt10bn by 2026

Equity Bottom-Up
327 Views, 20 May 2022 12:46
EXECUTIVE SUMMARY
  • Yesterday analyst meeting came out with a positive tone.We reiterate our BUY rating for SAPPE with a target price of Bt35.25 (+10% from previous TP)based on 24xPE’22E, close to +1SD
  • Management targeted revenue at Bt10bn by 2026 or +22%CAGR(2022-26). •In our view, SAPPE target is quite challenging amid concern over rising inflation situation. 
  • We expect 2Q22 earnings to continue to grow YoY and QoQ supported by (1) higher oversea market penetration, (2) distribution channel expansion,  (3) more effective marketing activities
detail (13-minute read)
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Pi Securities PCL, Thailand
Leading, full-service investment firm in Thailand
ThailandEquity Bottom-Up

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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