บทวิเคราะห์ (Research)

WHA : Company Update - Core earnings to hit new highs in 2024/2025 WHA held a press conference to announce their business plan. They are positive earnings would hit new highs in 2024/2025. Key catalysts for 2025 are high deed transfers with better selling prices and margins, excess charge for water heavy users, new S-Curve business (Mobilix), and asset monetization (Bt1.5b). Land sales target is conservative at 2,350 rai (secured 38% of that) but we see upside risk. The recent share price is unjustified given record profits. Maintain BUY rating.