CBG Bulls 3.3% as the Analyst Expects 43% Earnings Growth in 2020, Recomm. “BUY” at Bt165

The share price of Carabao Group Public Company Limited (CBG) rose ฿4.00/share or 3.35% to ฿123.50/share with a trading value of 1,307 million baht as of 10:45 local time in Thailand on Thursday.

 

Kasikorn Securities (KS) has given a “BUY” recommendation on CBG with a target price at ฿165.00/share, expecting the company to post solid 2020-21 earnings growth at 43% and 20% respectively. Flexible demand and cost-saving programs should drive further earnings growth in 2021. Undemanding valuation vs historical record with 38% potential upside.