SINGER Jumps 12% to a New High in 2 Years, Analyst Recomm. “BUY” at TP of ฿14

The share price of Singer Thailand Public Company Limited (SINGER) as of 11:05 local time in Thailand, jumped ฿1.40/share or 12.17% to trade at ฿12.90/share with a trading value of 110 million baht

Maybank Kim Eng recomments “BUY” SINGER at a target price of ฿14/share after seeing a positive development from 1) an unexpected rise of product sales amid country lockdown. SINGER has shut its stores following Government restrictive measures in effort to control the virus spreading, but the sales of air condition, which accounted for ⅓ of its revenue, has jumped from 4,000 to 7,000. 2) NPL signal is better than the expectation and likely to decline when compared to a previous quarter.