KBANK Extends the Gain to Bt128.50 as Analysts Recommend to Accumulate on Low PBV

The share price of Kasikornbank Public Company Limited (KBANK) extended its gain to close the morning session on June 9, 2021, at ฿128.50/share, increased ฿4.00/share or 3.21% with a trading value of 4,674 million baht, the most in the Thai stock market this morning.

 

KBANK had been plunging prior to this uptick due to the concerns over the Covid-19 situation in 2Q that could cause the bank provision to spike again. Meanwhile, MSCI Global Standard Indexes also delisted KBANK-F and KBANK from its index as well.

 

Krungsri Securities (KSS) has given a “BUY” recommendation on Kasikornbank Public Company Limited (KBANK) with a target price at ฿162.00/share.

KSS stated that KBANK would receive positive sentiment from the report of Thai NVDR allowing investors to invest in KBANK from June 8, 2021, onward after a halt earlier due to the room limit of 25% in the NVDR trading board.

Maybank Kim Eng expected KBANK’s earnings in 2021-2022 to grow 8-11%. Income fees are expected to grow as well as a gradual recovery of asset quality in the mid-term, in line with the positive development in Thai economy. Lastly, the share price currently traded at PBV 0.6x, which is an attractive value to accumulate.