SINGER Spikes 9.5% to ฿21.80 as Analyst Expects Earnings to Continue Growing Solidly

The share price of Singer Thailand Public Company Limited (SINGER) rose ฿1.90/share or 9.55% to ฿21.80/share with a trading value of 467 million baht as of 14:49 local time in Thailand on Monday.

Maybank Kim Eng has given a “BUY” recommendation on SINGER with a target price at ฿21.00/share, in anticipation of 2021-22 earnings to continue growing strongly thanks to better than expected credit cost at 300bps, plus better quality assets in all businesses and NPL outlook that continues to decline further in the next few years. This is coupled with continued expansion of the auto title loans portfolio (C4C) in all quarters.