MINT Gains 5%, Analyst Recomm. “BUY”, Expecting to See Hotel Business Recovery in 2Q
MINT rose ฿1.50/share or 5.04% to ฿31.25/share as of 15:24 local time in Thailand, with a trading value of 956 million baht.
The share price of Minor International Public Company Limited (MINT) rose ฿1.50/share or 5.04% to ฿31.25/share as of 15:24 local time in Thailand, with a trading value of 956 million baht.
KGI (Thailand) Securities (KGI) has given a “Speculative-Buy” on MINT with a target price of ฿37.00/share as the company has already bottomed out the worst in 1Q21, expecting to see recovery in 2Q21 led by hotel performances in European countries (70% of total hotel revenue). Meanwhile, hotel operations in Maldives continued to see improvements with RevPar growth of -11% YoY in 1Q21 (-18% YoY in 4Q20) backed by the sharp recovery in tourist arrivals.
Thailand’s business outlook is expected to improve in the second half of 2021 as a result of vaccine roll-out and relaxation of tourism restrictions.
