บทวิเคราะห์ (Research)

We expect BH to report a 4Q24F net profit of Bt1.77bn (+3.1% YoY, -9.2% QoQ). Based on our estimate, the company’s 4Q24F net profit would account for 23.1% of our full-year forecast of Bt7.68bn (+9.7% YoY). Its full-year net profit should be Bt7.65bn (+9.1%), accounting for 99.5% of our forecast. We maintain our earnings estimates at Bt7.68bn (+9.7% YoY) in 2024F and Bt7.99bn (+4.1% YoY) in 2025F. We maintain a rating of Outperform with a 2025 target price of Bt280.