HoonSmart.com>> CK Shares and 3.11%, Two Brokers Encourage “Buy”, Expect Profits to Rebound in 2Q24 – Receive Dividend from TTW-Aims for CKP's Operating Results to Improve, Benefiting from Acceleration of Budget to 2024 The estimate is cheap, with figures for the contractor group mostly giving outstanding earnings in May. Average 5.47%
At 2:19 p.m., CK shares added 3.11% to 23.20 baht, up 0.70 baht, with a trade value of 173.54 million baht, a market trade of 22.50 baht, a high of 23.20 baht and a low of 22 baht.
CH Karnchang Company (CK) recommends “Buy” with an underlying target of 26 baht from 13% average profit growth in 2024-2026. It is expected to support the profitability of CK related companies to recover from the second quarter of 2024.
Additionally, it will benefit from expediting budget delivery to support higher spending and investment in both bidding and procurement. A number of potential projects await, including the Orange Line, a dual-level expressway expected to be finalized by this year, which supports CK's earnings from 2030, including an “affordable” rating, as prices begin to recover from low prices. According to the zone statistics, the contractor group usually submits the pending returns in May. Average 5.47%
Pye Securities recommends “buy” CK shares at 27.4 baht, expected to gradually roll out after the start of Budget 2024, when new bids for government jobs begin, which is expected to increase from the 1st quarter of 2024, as dividend payments from TTW come in. , but it remains to be seen how much CKP's share will be compared to Q2 2023. After the first quarter of 2024, there is a loss share of 121 million baht.
In this regard, the 2024 forecast has been slightly adjusted, with expected revenue of 36,585 million baht, stable from the previous year. and new expected net profit of 1,740 million baht (previously expected revenue of 37,447 million baht and net profit of 1,759 million baht)
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