TRUE Hikes 5% After a News of Contract Signing for Installing Underground Cable in BKK.

As of 16.00 local time in Thailand, the share price of True Corporation Public Company Limited (TRUE) was at THB5.85, rose 0.30 or 5.41%. During the session, the highest of TRUE’s share price was THB5.95 and the lowest was THB5.55 with a trading value of THB2,271 million.

Kasikorn Securities stated the share price of TRUE has increased due to the affected from a news of contract signing with Bangkok for installing the underground cable, however, the project is on the process of negotiation. Therefore, Kasikorn recommended “BUY” TRUE share with the target price at ฿7.77 due to competition has decreased and extending of 900 Mhz payment which helps to support cash flow in a positive direction.