KEX Jumps 5% as BLS Expects E-Tailing Market to Grow Significantly for the Next 20 Years

The share price of Kerry Express (Thailand) Public Company Limited (KEX) rose ฿2.75/share or 4.95% to ฿58.25/share at the closing of the morning session on Friday, February 5, 2021, with a trading value of 519 million baht.

 

Bualuang Securities (BLS) stated that the positive momentum in the electronic-retailing market. BLS’ research team estimated online purchasing rate in Thailand to increase from an estimate of 15.5% in 2030 to 27.2% in 2040, representing a CAGR of 13.2%.

BLS expected KEX’s long-term profit growth to increase 4-63% and upgraded estimated terminal growth from 2.5% to 3.5%, resulting in a DCF target price at ฿70.00/share.