KTC Reaches an All-Time High at ฿45.50, Analyst Recommends “BUY” TP at ฿49/Share

As of 15.45 local time in Thailand, the share price of Krungthai Card Public Company Limited (KTC) was at ฿45.25/share, increased ฿3.25 or 7.74%. During the session, the highest of KTC’s share price was ฿45.50/share and the lowest was ฿42.25/share with a trading value of ฿1,307 million. A rise of KTC’s share price has reached an all-time high since entering the market in 2002.

KT ZMICO Securities recommended “BUY” for KTC share with the target price of ฿49.00/share, although the turnover of 2Q2019 is weak and lower than expected due to a seasoning. KT ZMICO expected KTC’s turnover to be better for the rest of the year when compared to an unusual weak turnover of 2Q2019.  Additionally, KTC will benefit from economic growth in 2020E and presents a strong profit growth. Moreover, KTC also has a strong financial statement to support and have the ability to manage profit and risk effectively. KT ZMICO stated that a new business plan of KTC will help to increase KTC’s ability in a long term growth.