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TH : KCE Electronics - Outlook intact despite rising copper price

1Q21 core net profit of THB430 (+24% yoy, +3% qoq) was in line with our forecast but beat Bloomberg consensus by 18%. KCE currently is running close to its full production capacity; its capacity will be boosted by 12% to 3.3m sq ft/month by year-end. Reiterate Add on KCE with an unchanged TP of THB72.


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