0250 GMT - CP Axtra's earnings stand to benefit from its omnichannel strategy, Thanachart Securities' Phannarai Tiyapittayarut says in a research report. This strategy has been successful, with its online sales mix increasing to 18% in 2024 from 8% in 2021, the analyst notes. Online channels enable the Thai retailer and wholesaler to substantially expand its customer base, says the brokerage, which forecasts the company's online sales mix to rise to 28% by 2027. Synergies from amalgamation of its wholesale and retail businesses in October 2024 are also beginning to emerge, the brokerage adds, noting that approximately THB400 million in synergies were realized in 4Q. It raises the stock's target price to THB35.00 from THB33.00 while maintaining an unchanged buy rating. Shares closed 0.9% higher at THB28.25 on Friday. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 09, 2025 22:50 ET (02:50 GMT)
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