BCPG Jumps 4%, Analyst Recomm. “BUY” at ฿18 in Anticipation of Improving Earnings in 1Q21

The share price of BCPG Public Company Limited (BCPG) rose ฿0.60/share or 4.03% to ฿15.50/share as of 15:55 local time in Thailand with a trading value of 162 million baht.

 

Country Group Securities (CGS) has given a “BUY” recommendation on BCPG with a target price of ฿18.00/share following a 4Q20 earnings result of 311 million baht (-30%YoY, -54%QoQ), but if exclude extra expenses, net profit for the quarter would be 536 million baht (+31%YoY, -15QoQ).

 

The YoY growth was due to an increase in production capacity by 65MW in 1Q20-3Q20 and a seasonal factor that led to a drop in hydro power plant QoQ. However, CGS expected 1Q20 to improve YoY, driven by a revenue recognition of the 20MW solar farm which has already commenced the COD, but likely to remain flat QoQ. BCPG offered a dividend payment of ฿0.17/share, the XD-date is March 3, 2021.