บทวิเคราะห์ (Research)

TRUE : On a roll TRUE’s share price has spiked recently but valuation remains attractive at 7.9x FY25F EV/EBITDA while offering 9% EBITDA growth. We maintain a BUY rating because it has transitioned from a turnaround stock to a growth stock. We expect 3Q24 to mark the third consecutive quarter of core profit as well as accelerating earnings, both yoy and qoq, to Bt2.38b. We are keeping our FY24F and FY25F earnings but we expect the market to upgrade earnings, especially for FY25. That will be the next share price catalyst.