CPF Jumps 3.4% in Hopes of Hemp-Based Food Production, Analysts Rate “BUY” at ฿42.2

The share price of Charoen Pokphand Foods Public Company Limited (CPF) rose ฿1.00/share or 3.39% to ฿30.50/share as of 11:24 local time in Thailand, with a trading value of 2,963 million baht.

 

Kingsford Securities has given a “BUY” recommendation on CPF and a target price of ฿39.50/share after CPF announced that currently, the company is cooperating closely with expert organization in the development of hemp-based foods, which expects a product introduction this year.

 

For the operating result in 2021, Kingsford has a positive view towards CPF, believing the growth is still on track thanks to the acquisition of Tesco and China’s integrated swine company Chia Tai Investment (CTI). 

 

Meanwhile Krungsri Securities rated “BUY” with a target price of ฿42.20/share in response to the coming hemp-related products launching, and the prices of chicken and pork remain at high level. The share profit from subsidiary companies is likely to increase especially from CPALL-Tesco Lotus, along with Thai baht weakening.