KWM Extends 10% Gain to Bt6.65 as Analyst Expects 126% Increase in 2021 Earnings

The share price of K.W. Metal Work Public Company Limited (KWM) continued to rally on Wednesday as the analysts expected 2021 earnings to jump 126%.

 

As of 12:04 local time in Thailand on June 23, 2021, KWM rose ฿0.65/share or 10.83% to ฿6.65/share with a trading value of 509 million baht. The share price rose as much as ฿0.85/share or 14.17% to ฿6.85/share earlier this morning.

 

Maybank Kim Eng Securities (Thailand) (MBKET) has given a “BUY” recommendation on K.W. Metal Work Public Company Limited (KWM) with a target price at ฿7.15/share.

MBKET expected a profit this year of 98 million baht, representing an increase of 126% YoY, to set a new record for two consecutive years on the back of higher sales and margin after adjusting production lines and launching new products. Moreover, the main customers with the very high tractor production have boosted their income. The hemp extract machine is expected to accelerate the profit in the next period.