Stock Analysis: Siam Global

GLOBAL’s second-quarter profit was down as estimated. Analysts have increased the profit forecast for 2020 with a new TP of 19.3 baht per share.

With its current share price near the target price, we do not see much upside in the near term – and this is well reflected in its somewhat reduced volatility.

The current share, however, is just 5 per cent below its lifetime high. I am not willing to pay such high PER of nearly 40x when recovery is questionable. For Equistock, this is a Take Profit.

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