Key Indices
Top Stories
Company Update | Aeon Thana Sinsap (Thailand) (AEONTS TB/HOLD/Bt90.25/Target: Bt98.00)
- We came away from AEONTS’ analyst meeting with a neutral view. Management remains prudent in its lending policy amid asset quality concerns in hire purchase and a weakening economic environment. The deterioration in asset quality for its HP portfolio is expected to be resolved in the next two quarters. The company does not expect the recent Bangkok flooding to have a significant impact on its performance. Current management overlays should be sufficient to buffer against any uncertainties. Maintain HOLD. Target price: Bt98.00.
Company Update | Moshi Moshi (MOSHI TB/BUY/Bt34.50/Target: Bt50.00)
- MOSHI’s current share price is trading close to its historical trough at 14.4x PE, which we view as a reasonable entry point. 3Q26 earnings are expected to come in at Bt153m, increasing 12% yoy, driven by positive SSSG and gross margin expansion. We view the Bangkok flooding as a short-term impact, while business fundamentals remain unchanged. Maintain BUY. Target price is Bt50.00, based on 20x PE.
Top Stories
Company Update | Aeon Thana Sinsap (Thailand) (AEONTS TB/HOLD/Bt90.25/Target: Bt98.00)
- We came away from AEONTS’ analyst meeting with a neutral view. Management remains prudent in its lending policy amid asset quality concerns in hire purchase and a weakening economic environment. The deterioration in asset quality for its HP portfolio is expected to be resolved in the next two quarters. The company does not expect the recent Bangkok flooding to have a significant impact on its performance. Current management overlays should be sufficient to buffer against any uncertainties. Maintain HOLD. Target price: Bt98.00.
Company Update | Moshi Moshi (MOSHI TB/BUY/Bt34.50/Target: Bt50.00)
- MOSHI’s current share price is trading close to its historical trough at 14.4x PE, which we view as a reasonable entry point. 3Q26 earnings are expected to come in at Bt153m, increasing 12% yoy, driven by positive SSSG and gross margin expansion. We view the Bangkok flooding as a short-term impact, while business fundamentals remain unchanged. Maintain BUY. Target price is Bt50.00, based on 20x PE.
Key Indices
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