Equity Analysis /
Thailand

TH : Berli Jucker - Clearer outlook, but unexciting

    Chaiyatorn Sricharoen
    Chaiyatorn Sricharoen

    Research Analyst, CFA

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    CGS-CIMB
    28 March 2022
    Published byCGS-CIMB

    BJC’s long-term outlook is clearer, but it is still unexciting, in our view. Execution of its expansion plan looks challenging. Reiterate Hold, with a higher TP of THB38.50.