TU Jumps 5% as Baht Depreciation, a Positive Sign of Export in 2020!

The share price of Thai Union Group Public Company Limited (TU) closed at 14.70baht/share rose 0.70baht/share or 5%. Reached its highest at 14.80baht/share with the total trading value of 357 million baht.

Krungsri Securities recommends to “BUY” at the target price of 18.10baht/share. Thai baht has depreciated which benefits to TU as 75% of its revenue was from export sector.  The depreciation of Thai currency will increase TU’s profit approx. 600 – 700 million baht.

While DBS Vickers Securities recommends to “BUY” at the target price of 18.50baht/share as 2020 is a year with bright future and baht has depreciated gradually.