RBF Jumps 6% to ฿10 as Analyst Expects 2020 Normalize Profit to Grow 43%

The share price of R&B Food Supply Public Company Limited (RBF) rose ฿0.60/share or 6.38% to ฿10.00/share as the impact from the coronavirus outbreak has bottomed out.

 

Finansia Syrus (FSS) expected the impact from the coronavirus outbreak to bottom out after the company reported a slight decrease in 2Q20 earnings, and should be rebound in the 3Q20 from the food and beverage business. Meanwhile, the occupancy rate in hotel business started to pick up, but should post a loss close to the 1H earnings, which the company has already taken into its forecast.

FSS expected RBF normalize profit in 2020 to increase 43% compared to the same period of last year and increase 16% compared to the previous quarter. The security company maintained its “BUY” rating with a target price at ฿11.00/share.