NOBLE Gains 6% as Analyst Expects Growth from Selling “Noble Remix” and High Backlog
NOBLE Gains 6% as Analyst Expects Growth from Selling “Noble Remix” and Backlog Recognition throughout 2023.
The share price of Noble Development Public Company Limited (NOBLE) closed the morning session at ฿23.30/share, increased ฿1.40/share or 6.39% with a trading value of 304 million baht.
Finansia Syrus Securities (FSS) has given a “BUY” recommendation on NOBLE with a target price before a par splitting at ฿24.30/share and a target price after a par splitting at ฿8.10/share, stating that the company has been focusing more on international sales that covers all segment. Meanwhile, the company reported a backlog of 15 billion baht as of the end of 3Q20, which would be recognized consistently throughout 2023.
The security company expected NOBLE to report a drop of profit by 43% in 2020 as the company recorded an extraordinary gain from selling non-core assets in the previous year, coupled with a business restructuring program. Nevertheless, FSS forecasted a 7% growth in net profit in 2021 from selling Noble Remix to REIT.
