CHG Gains 2.3% to Bt2.66, KGI Raises TP to Bt3.40 amid Better 2021 Earnings Projection

The share price of Chularat Hospital Public Company Limited (CHG) rose ฿0.06/share or 2.31% to ฿2.66/share as of 10:55 local time in Thailand on Monday with a trading value of 78 million baht.

 

KGI Securities were positive about CHGs earnings outlook in 2021F as the security company expected CHG’s performance to continue to strengthen YoY. The company has been working on new businesses that will generate revenues from its existing hospitals. Moreover, KGI stated that CHG will continue to benefit from Chularat 304 and Ruampat Chachoengsao.

As a result, KGI raised its 2021 earnings projection 12.3% to a net profit of Bt1.02bn (+16.5% YoY), while maintaining a rating of Outperform with a 2022 DCF target price of Bt3.40, from Bt3.05 for 2021.