บทวิเคราะห์ (Research)

TKN : Initiate Coverage - Seaweed risk is priced-in We initiate coverage of TKN with a NEUTRAL rating and Bt10.30 TP. TKN is a good long-term investment supported by the popularity of seaweed products worldwide, including in China. However, near-term earnings would continue to be marred by volatile prices of seaweed (33% of COGS), which have jumped 50% YTD. Nevertheless, the counter is trading at -1SD of its long-term average multiple, suggesting risk of higher seaweed prices have been priced-in.