GPSC Rises 4% after Gov’t Urges to Speed Up EV Production, Analyst Recomm. “BUY” at ฿82

The share price of Global Power Synergy Public Company Limited (GPSC) rose ฿3.00/share or 4.04% to ฿77.25/share as of 12:21 local time in Thailand, with a trading value of 2,536 million baht. 

 

Asia Plus Securities (ASPS) rated GPSC as Top Pick and gave a target price of ฿82.00/share, seeing a positive sentiment from Thailand National Electric Vehicle Policy Committee meeting. The Committee on Wednesday March 24, agreed to support and promote EV production in Thailand with the projection to go full EV within 2035. 

 

ASPS expected a battery business will boost GPSC’s earnings outlook this year as this unit is part of New S-Curve strategy. The semi-solid battery pilot plant with the total capacity of 30MWh is expected to be completed in 2Q21.