Analysts Agree on “BUY” Rating for MTC with a TP of ฿73, 4Q Profit to Record a New High

Analysts gave a “BUY” recommendation on Muangthai Capital Public Company Limited (MTC) in unison, seeing high growth in loan portfolio as well as constant net profit growth. The 4Q20 earnings are expected to report a new high and will be able to compete with a joint venture of SAWAD and GSB.

The company also cut its car-title loan interest rate by 18% from the earlier 19% to in line with SAWAD and GSB.

Analysts expected 2020 earnings to increase 16-22%, and another 15% in 2020, mainly due to an expansion of loan business.

 

Recommendation and Target Price

Phillip Securities “BUY” at ฿61.00/share

Maybank Kim Eng “BUY” at ฿68.00/share

Capital Nomura Securities “BUY” at ฿69.00/share

Tisco Securities “BUY” at ฿70.00/share

LH Securities “BUY” at ฿71.00/share

DBS Vickers “BUY” at ฿73.00/share