SUN Surges 10%, Analyst Picks It as Safe Haven Stock amid Covid-19 Pandemic
SUN rose ฿0.95/share or 10.50% to ฿10.00/share, analyst picked it as an export stock with an attractive valuation and a positive earnings momentum projection in 2H21.
The share price of Sunsweet Public Company Limited (SUN) rose ฿0.95/share or 10.50% to ฿10.00/share as of 12:13 local time in Thailand, with a trading value of 504 million baht.
Trinity Securities expects SUN to report a normal net profit of 49 million baht (excluding foreign exchange hedging) in 2Q21, an increase in both YoY and QoQ. While the interim dividend yield is expected to be 0.60 percent. As a result, Trinity continues to recommend SUN as an export stock with an attractive valuation and a positive earnings momentum projection for the second half of the year. Additionally, SUN is resilient to the Covid-19 problem.
However, in the short term, the price has already breached the target level of 9.10 baht. Strategically, those who already own it should continue to do so, but those who are just beginning to collect are advised to wait until the share becomes weaker.