CPN Edges Slightly Higher, Analyst Expects nearly 10% Upside to Earnings from SF Deal
The share price of CPN edged slightly higher as the analyst saw the deal for SF as a strategic move to expand the business.
As of 11:10 local time in Thailand on July 6, 2021, CPN rose ฿0.75/share or 1.45% to ฿52.50/share with a trading value of 121 million baht.
Finansia Syrus Securities (FSS) has given a “BUY” recommendation on Central Pattana Public Company Limited (CPN) with a target price at ฿64.00/share.
FSS had a positive view of the deal for Siam Future Development Public Company Limited (SF) from Major Cineplex Group Company Limited (MAJOR) with a total shareholding of 30.36% and a tender offer in 3Q-4Q21, seeing that the move is an advancement to strategic location in East Bangkok.
Meanwhile, SF’s margin is at a high level, resulting in an upside for CPN’s profit forecast around 5-9%.
