บทวิเคราะห์ (Research)

AU : Company Update - Expect strong earnings in 4Q We maintain a BUY rating with a target price of Bt12.50 (from Bt11.50) for AU, premised on: (i) expectations of strong earnings in 4Q driven by still-positive SSSG, a larger OEM customer base, and improving margins; (ii) upgrade of FY24-26F earnings to reflect stronger-than-expected 3Q24 results, and higher revenue from sale of goods and higher margins; and (iii) sustainable earnings given solid brand positioning, positive SSSG, and channel expansion.