0314 GMT - Siam Wellness Group's business growth outlook seems good, Thanachart Securities' Nuttapop Prasitsuksant says in a research report. The spa chain operator is this year resuming its expansion at a pace of 10 new branches a year after having maintained its number of branches at 70 since the pandemic's start in 2020, the analyst notes. The brokerage expects higher profitability from larger-scale shops in prime locations and better staff utilization. Moreover, the Thai company's interest expense is falling, given that it has returned to a net cash position. The brokerage projects the company's EPS CAGR at 21% over 2025-2027. It raises the stock's target price to THB11.00 from THB10.00 and keeps its buy rating. Shares last quoted at THB7.20. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
December 01, 2024 22:16 ET (03:16 GMT)
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