Stock Analyis: TQM Corporation

Investors hope that the COVID-19 outbreak will increase the need for insurance. With expanding network through an online platform and acquisition of distributors, TQM is well placed to capitalize on this trend.

This is all well said and well-priced as TQM’s share price rose 17 per cent, 30 per cent and 30 per cent in the months of April, May and June, respectively.

Its second-quarter profit of 162 million baht, up 33 per cent YoY, takes profit in six months of 2020 to 342 million baht, up 50 per cent YoY. The second-quarter profit is less than 180 million baht than what it earned in the first quarter this year.

TQM may blame network disruption because of the soft lockdowns in April and early May.

Analysts are forecasting a 2020 profit of 650 million baht which TQM may surpass, yet a 42x PER for an insurance products distributor is expensive. This is the time to take profit.

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