WICE Jumps 2%, Analyst Expects 1Q21 Earnings to Record a New High, Giving TP at ฿7.6

The share price of Wice Logistics Public Company Limited (WICE) rose ฿0.15/share or 2.4% to ฿6.40/share as of 14:28 local time in Thailand, with a trading value of 73 million baht.

Maybank Kim Eng (Maybank) expected WICE’s 1Q21 earnings outlook remains excellent, much likely to hit a new record of 67 million baht, (+13.1% QoQ, +122%YoY). The global economic recovery from the COVID-19 has seen the low season this year not as weak as every year for all units in China, Hong Kong, Singapore and Thailand as demand flows throughout the quarter. Meanwhile, cross-border shipping (by ETL) can also help solve the pain points during the global container shortages. So from this strong trend, Maybank raised the 2021 earnings forecast by 27% with a new target price of ฿7.60/share and maintained a “BUY” recommendation.