Thai Union Gains 2% as Baht Weakens, Analyst Recomm. “BUY” on Positive 3Q Outlook
TU rose ฿0.50/share or 2.33% to ฿22.00/share, analyst forecasts that the 3Q21 earnings to remain positive on high season and recent baht depreciation
The share price of Thai Union Group Public Company Limited (TU) rose ฿0.50/share or 2.33% to ฿22.00/share as of 15:26 local time in Thailand, with a trading value of 1,260 million baht.
Maybank Kim Eng (Thailand) (MBKET) forecasts that TU’s third-quarter earnings would remain positive, owing to the high season and the recent currency depreciation to 33 baht per dollar, plus strong frozen seafood sales and a robust demand for pet food. Additionally, TU plans to spin off the business in order to maximize the value of the TU group. MBKET recommends a “BUY” rating with a target price of 24.6 baht.