บทวิเคราะห์ (Research)

CENTEL : Company Quick Comment - Guidance for stronger earnings in 4Q We maintain a Trading Buy rating and Bt40 target price for CENTEL, premised on the following: (i) positive tone at the analyst briefing. The management guided for stronger revenues in 4Q24 led by both the Hotel and Food segments, supported by high season. This should offset pre-opening expenses in the Maldives asset and drive earnings to grow qoq. We have not adjusted for this in our FY24F earnings. (ii) The share price has rallied over the last three months and CENTEL is now trading at 28x FY25 P/E, suggesting limited upside to our target price.