DTAC Gains 8%, Analyst Rates “BUY” with TP of ฿46, Given Share Price Remains Laggard
DTAC gained 7.81% in today's morning session is forecast to be speculative, given the share remains a laggard, and the 2Q21 performance beat market expectations.
The share price of Total Access Communication Public Company Limited (DTAC) rose ฿2.50/share or 7.81% to ฿34.50/share as of 11:39 local time in Thailand, with a trading value of 1,671 million baht.
Maybank Kim Eng Securities (Thailand) (MBKET) stated that an increase in DTAC’s share price in the morning session today (July 29) is expected to be a speculation of investors as the share is still laggard, plus the 2Q21 performance was better than the market expected. As a result, investors’ concerns about DTAC’s balance sheet are eased.
Additionally, stocks in the ICT sector are regarded as safe investments since they are rarely affected by the severe Covid outbreak and benefit from the Work from Home (WFH) policy. MBKET has recommended a “BUY” rating on the stock with a target price of 46 baht.