Analyst Expects JASIF 2020 Profit of ฿8.35Bn, Giving “BUY” at ฿11.62 with Top Pick Rating

Analysts expected a plenty upside forJasmine Broadband Internet Infrastructure Fund (JASIF)’s broadband business, estimating this year profit of 8.35 billion baht with a dividend yield of 10.14%. While forecasting JASIF’s 2021 profit of 8.6 billion baht with a dividend yield at 10.24%. In 3Q20, the fund is expected to offer a dividend at ฿0.25/share after a ฿0.24 and ฿0.25 of dividend per share in 1Q20 and 2Q20, respectively. Kingsford Securities recommended “BUY” with a target price at ฿11.62/share.

 

KGI Securities (Thailand)  recommended counters with safer outlooks and relatively higher dividend yields amid political tension such as JASIF, Hemaraj Leasehold Real Estate Investment Trust (HREIT) and Digital Telecommunications Infrastructure Fund (DIF).

 

KGI maintained the key highlights on i) relatively high yield, ii) premium or discount to NAV, iii) past performances and outlook, and iv) potential earnings recovery. Additionally, it is likely that the negative effect from political protest would lead to potential downside to the retail segment. Therefore, KGI top picks remain JASIF, HREIT and DIF, as these counters offered yields between 6.3-9.3% in 2019 and 3.6-5.1% for 1H20, while their quarterly earnings looked strong and stable. All-in, these counters look attractive for the current situation as yields should be less volatile for 2020-21.