WICE Jumps 11%, Analyst Upgrades a TP to ฿5.6 in Anticipation of Robust 2H20 Profit

The share price of Wice Logistics Public Company Limited (WICE) on Wednesday September 2, 2020 jumped more than 10% from the opening bell of ฿4.46/share.

 

As of 11:22 local time in Thailand, WICE was ฿4.80/share rose ฿0.48/share or 11.11% with a trading value of 198 million baht.

 

Maybank Kim Eng (Maybank) has upgraded a target price of WICE to ฿5.60/share as the 2Q20 net profit was better than expected, while foresaw a better performance in the second half of this year at speed pace. WICE will benefit from the logistics business due to the recovery of auto sectors in line with the global economy.

 

The faster-than-expected improvement in the U.S. manufacturing sector has given a positive sentiment on Thai industry both real sector and exports. Consumer goods, Electronic sector and Logistics Business are expected to take advantage from this sentiment.