MINT Soars 7% to ฿21.90 as Businesses Begin to Reopen, Recommends “BUY” at ฿27

The share price of Minor International Public Company Limited (MINT) jumped ฿1.50/share or 7.35% to ฿21.90/share as hotel business started to reopen after being unable to operate due to the pandemic.

 

Bualuang Securities (BLS) stated that MINT’s overall hotel businesses have been 75% reopened and will be 90% by September 2020. Meanwhile, more than 90% of F&B businesses have been reopened. MINT expected gearing ratio to decrease from 1.63x to 1.45x after the RO in July and to 1.37x after the conversion of MINT-W7.

BLS saw that the downside of MINT is over as worries over the company’s survivability from the businesses affected by the coronavirus outbreak is over, and the share price would consequently edge higher. BLS recommended “BUY” with a target price at ฿27.00/share.