TH : Minor International - Uneven recovery

We expect MINT’s hotels in Europe to perform better than its properties elsewhere as European governments relax their Covid-19 restrictions. However, as many Asian countries are facing new Covid-19 waves, we think the slowdown in Asia would overshadow any recovery expected in Europe. We reiterate our Reduce call with an unchanged THB23 target price (2.4x FY21F P/BV, 0.5 s.d. below its 5-year mean).

Most Viewed See latest

This publication is being distributed by Tellimer solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not con...

Full Tellimer disclaimers