Equity Analysis /

TH : Delta Electronics (Thailand) - Key winner of US infrastructure plan

    31 March 2021
    Published byCGS-CIMB

    We expect Delta to benefit from the US government’s US$174bn investment in EV and US$100bn plan to revitalise America’s digital infrastructure. According to IDC, global data usage will increase by a 25% CAGR from 45 zettabytes in 2019 to 175 zettabytes in 2025F. We upgrade Delta from Reduce to Add with a higher TP of THB368.