KCE Gains 6%, Analyst Ranks as Top Electric Stock on Bullish Outlook, Giving TP at ฿80

The share price of KCE Electronics Public Company Limited (KCE) rose ฿4.25/share or 6.20% to ฿72.75/share as of 16:24 local time in Thailand, with a trading value of 1,322 million baht.

Kasikorn Securities (KS) reiterated its “BUY” recommendation on KCE with an 80 baht target price and ranked the company as a Top Electric Stock, citing a bullish outlook on KCE’s net profit growth prospects from new production capacity scheduled to begin in 3Q21 and 4Q21. Additionally, KS anticipated a CAGR of 46% in 2021-2023, the highest among its peers. Additionally, KS expects KCE’s share price will remain stable as investors wait to accumulate in the case of a decrease in the share price.

Furthermore, KCE is likely to benefit the most from the strengthening dollar and declining commodity prices. KCE is regarded to be on an upward trend at the moment, considering the majority of KCE’s revenue is in US dollars.