CP Axtra Poised to Benefit From Some Business Strategies -- Market Talk

Dow Jones12-11

0207 GMT - CP Axtra's earnings are poised to gain from some business strategies such as a new product mix, direct sourcing with suppliers and the combination of its wholesale and retail businesses into one entity, says Thanachart Securities' Phannarai Tiyapittayarut in a research report. Having combined its wholesale and retail businesses, the Thailand company expects to see synergy of 1% of total sales from 4Q 2024 to 2027, the analyst adds. The brokerage raises its earnings estimates for CP Axtra by 5% for 2025, 11% for 2026 and 13% for 2027. Thanachart Securities raises its rating for the stock to buy from hold and its target price to THB41.00 from THB33.00. Shares closed at THB35.50 on Monday. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

December 10, 2024 21:07 ET (02:07 GMT)

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