บทวิเคราะห์ (Research)

Upgrade to BUY with higher TP of THB11.4 We turn more optimistic on GFPT given expected strong 1Q25E results, continued low feed costs, and stable domestic chicken prices. Additionally, broiler export demand will likely stay strong amid tight global supply and demand for affordable protein. As such, we upgrade GFPT’s rating to BUY from HOLD with a higher TP of THB11.4 (based on 7x FY25E P/E, -1.5 SD its 5-year mean) after our 10-15% upward revision to EPS. GFPT is trading at a cheap 6x FY25E P/E, -1.75 SD its 5-year mean.