บทวิเคราะห์ (Research)

BE8 booked Bt44m net profit for 3Q24 (-38% yoy, +28% qoq), 8% below our estimate but in line with market expectations. Group revenue and GPM were a notch weaker than expected. However, there are signs of recovery qoq. The share price has fallen recently but that suggests larger upside risk. This prompted us to upgrade BE8 to BUY (from Neutral) with TP intact at Bt20 (FY25).