Listen to this story |
Shares of telecom operator Jasmine International (JAS) gained almost 13 per cent Monday on anticipation of a second-half recovery, while analysts warned that the price has already reached their target for the stock.
JAS rose by 12.84 per cent to 3.34 baht by mid-day, accounting for the largest value traded in the morning session of 2.2 billion baht.
Its subsidiary Jasmine Telecom System (JTS) also jumped by 18.07 per cent to 19.60 baht, with a transaction value of 154.4 million baht, the fourth biggest price rise in the morning trading.
Investors might be speculating on a JAS recovery in the second half of the year, said analysts at Asia plus Securities.
“JAS also benefits from the stock market’s uptrend” as investors were shifting their portfolios to stocks especially in the ICT sector,” said the analysts.
Given its 265-million-baht loss reported in the first quarter this year, JAS’s target price from Asia Plus stood at 3.10 baht. “We do not recommend speculative buying at this level,” the analyst said.
The analysts, however, said that if the company’s second-quarter figures turn out positive, they would consider adjusting the target price accordingly.
For fundamental plays, Asia Plus suggested investors switch to a stronger peer such as Advanced Info Service (ADVANC).