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.