AMA Soars 40.5% for the Sixth Day, Analyst Recommends “BUY” as 2Q Profit Tends to Grow
AMA has hiked 40.5% for the sixth straight day. The analyst has recommended “BUY” as 2Q19 profit tends to grow continuously.
AMA Marine Public Company Limited (AMA) continues its gain for the sixth straight day, on track for the longest winning streak since the period ended March 21, 2018. The highest share price on July 18 was ฿9.70/share, increased ฿0.40/share or 4.3% while extending its gain for the sixth day to a total of 40.58% since the closing price at ฿6.90/share on July 9.
The relative strength index (RSI) is at 88, indicating that the stock may be overbought.
Globlex Securities stated in the analysis, recommended “BUY” AMA with a 2Q19E profit at THB 36 million, increased 50% YoY and 192% QoQ. The increase might be due to the expansion of its transportation buses, making the GPM to reach 26%, and low depreciation of its sea transportation vessel, making its GPM to reach 20%.
Meanwhile, the Baltic Dry Index is also increasing continuously. The current index was 2,011.00 points, increased from 668.00 points at the beginning of the year.
