SCGP Narrows the TP Gap with Higher Delivery Demand from Lockdown Restrictions

KGI Securities has given a “Speculative-Buy” recommendation on SCG Packaging Public Company Limited (SCGP) with a consensus target price at ฿60.80/share.

 

KGI Securities had a positive sentiment on the new restrictions from the government sector by not allowing dine-in at the restaurants, which would result in a higher demand for food delivery services as well as packaging delivery for e-commerce businesses.

KGI cited the estimated target price consensus at ฿60.80/share with an estimated earnings in 2022 to grow 17.3% to 10.4 billion baht (forward PR 24x).