BEAUTY Jumps 11% amid a Plummet in SET Index, Analyst Expects a Recovery in 3Q20

The share price of Beauty Community Public Company Limited (BEAUTY) jumped 11% amid a decline in the Thai stock market as investors accumulate stocks in anticipation of the reopening for Chinese tourists.

 

BEAUTY advanced ฿0.15/share or 11.36% to ฿1.47/share amid a plummet of 1.47% in SET Index.

KTB Securities (Thailand) (KTBST) stated that the rise in BEAUTY’s share price was due to an anticipation of the reopening international arrival by granting a special tourist visa in which BEAUTY would benefit on the arrival of Chinese tourists, though at a lower number.

Meanwhile, the company’s fundamentals are unchanged as KTBST expected BEAUTY has passed its lowest point in the 2Q20 and would start the recovery in 3Q20 onward. Thus, KTBST gave a “BUY” recommendation on BEAUTY with a target price at ฿2.70/share.