SCGP Jumps 4% in Anticipation of Double-Digit Growth in 2021, Analyst Rates “BUY” at ฿51

The share price of SCG Packaging Public Company Limited (SCGP) rose ฿1.75/share or 4.07% to ฿44.75/share as of 11:27 local time in Thailand, with a trading value of 1,769 million baht.

 

Maybank Kim Eng has given a “BUY” recommendation on SCGP with a target price of ฿51.00/share. Following the company’s guidance at an analyst meeting, SCGP expected double-digit growth this year and about 20 billion baht has been set aside in the 2021 budget consisting of 4.4-5.4 billion baht for Go-Pak acquisition, 5 billion baht for an improvement and maintenance of system and 3 billion baht for the projects in Indonesia and the Philippines. Furthermore, SCGP aims to acquire M&P worth 7 billion baht to enhance business growth.   

 

Maybank also revised sales and earnings forecast by 6% and 7%, expecting sales to expand 15.6% to 107,304 million baht in 2021, while earnings will stand at 8,584 million baht or 29% growth YoY.