0512 GMT - Ratchthani Leasing appears set to enter an asset-quality recovery cycle, according to Thanachart Securities' Sarachada Sornsong in a research report, as the brokerage reaffirms its buy rating on the stock. The Thai company has taken a more cautious approach to new lending and strengthened its debt collection processes since 2Q 2023, bringing its balance sheet clean-up to near completion, the analyst notes. The financial services provider is expected to maintain its prudent stance, prioritizing loan quality over aggressive portfolio expansion. However, the brokerage lowers its 2025-2027 earnings estimates for Ratchthani Leasing by average 52%, citing factors such as elevated provisions. The target price is reduced to THB1.84 from THB2.64. Shares are 1.2% higher at THB1.66. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 24, 2025 00:12 ET (05:12 GMT)
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