AOT Drops after Reporting Lower NP in 2020FY, Analyst Expects Pre-Covid Recovery in 2023!

The share price of AOT dropped ฿0.75/share or 1.12% to ฿66.50/share as of 16:00 local time in Thailand with a trading value of 3,849 million baht after reporting a lower profit in 2020FY by 82.74% to book 4,320.68 million baht.

Tisco Securities has lowered its recommendation on Airports of Thailand Public Company Limited (AOT) from “BUY” to “Hold” with a fair value at ฿64.00/share (DCF), expecting passengers in 2022 to drop from 32 million to 24 million due to lower-than-expected travel, slow process of travel bubble and limited flights. The security company expected the situation to return to normal by 2023, seeing limited upside to AOT’s share as there could be a delay in coronavirus vaccine distribution.