บทวิเคราะห์ (Research)

SAV : Initiate Coverage - The sole air traffic service provider in Cambodia We initiate our analysis of SAV stock with a Buy recommendation, with target price (TP25F) at 25.75 baht. SAV is a holding company with an exclusive concession to manage air traffic in Cambodia for 49 years (2002-2051). Currently, it is negotiating with the Lao government to provide air traffic services (with flight volumes 2-3 times higher than Cambodia). A conclusion is expected in 3Q24. The company’s performance has significantly recovered after the easing of COVID-19. We expect net profit for 24F-26F to grow +28%CAGR.