บทวิเคราะห์ (Research)

BEM : Despite fare hike, ridership continues to grow We maintain a BUY rating for BEM with a higher TP of Bt10.4 (from Bt9.5) after moving target valuation to end-2025. We project earnings would grow 11% this year and 6.5% in 2025 premised on strong traffic reports recently, especially for mass transit. Ridership had risen 6% mom and 7% yoy despite hiking fares effective 3 July, 2024.