บทวิเคราะห์ (Research)

SHR : Operational and financial controls will drive growth We maintain our BUY recommendation on SHR with a target price of Bt2.00, supported by the positive tone from the recent analyst meeting. We expect to deliver continued yoy growth in 2H25F, driven by RevPAR momentum in Thailand and the Maldives, as well as the reopening of UK properties, alongside lower interest expenses from refinancing strategies. We maintain our forecast, expecting 3Q25F to return to profit. SHR currently trades at 16x PER and 0.3x PBV for 2025F, below historical and sector averages. We believe most negatives are already priced in, while earnings remain on a growth trajectory. Reiterate BUY.