Analyst Expects SINGER-JMT a New High in 4Q as NPL-Car Title Loan Portfolio Expand

JMT’s profit is expected to reach a new high in 4Q20 with an increase of 46% in 2020’s profit, mainly contributed by an increase in NPL business. Meanwhile, SINGER’s 4Q20 is also expected to perform outstandingly from its car title loan business with an estimated profit in 2020 at 442 million baht. The analyst raised JMT’s target price to ฿35.50/share and SINGER’s to ฿21.00/share.

 

Maybank Kim Eng sees a robust growth in JMT Network Services Public Company Limited (JMT), expecting an all-time high in 4Q20, revising up the projection on 2021-2022 net profit by 10% and upgraded 2020 net profit forecast to 997 million baht, increasing 46% YoY and 1,317 million baht in 2021 (+32% YoY) in line with the expansion of NPL business.  

 

Raised target price to ฿35.50/share with a “BUY” recommendation as the growth remains high at 32% YoY 

 

For Singer Thailand Public Company Limited (SINGER), Maybank expects demand and public spending to recover in 4Q20 and loans are likely to further improve, leading to a better profit outlook for the year 2020, estimating net profit of 442 million baht. Maybank upgraded SINGER’s target price to ฿21.00/share, reflecting overall growth for the next 12 months, EPS increased 20% or 6% YoY.