AWC shares rose 5.09%, bucking the market, after the company approved the sale of 5 projects to AWR for a minimum value of 48.449 billion baht. The stock climbed as high as 3.30 baht, up 0.16 baht. KGI Securities (Thailand) set a base target price for AWC at 3.6 baht, expecting strong earnings in the third and fourth quarters. It also sees positive sentiment from China's long holiday period starting late this month through early October, which is expected to boost the number of Chinese tourists. AWC has a Chinese customer base of about 13%, and several large events in the fourth quarter will support Thailand's overall tourism picture. Meanwhile, the planned launch of the AWR REIT will help unlock asset value and prepare investment funds to continue expanding the hotel business. KGI assesses the share price as a sideways uptrend, with support at 3.08 baht and resistance at 3.18 to 3.22 baht. If it breaks through this resistance range, the next resistance is estimated at 3.4 baht, with a stop loss at 3.04 baht.
Asset World Corp Public Company LimitedAWC approved the sale of 5 projects to AWR for at least 48.449 billion baht, unlocking asset value.
KGI Securities (Thailand) Public Company LimitedKGI Securities issued a base target price of 3.6 baht and a sideways-uptrend view on AWC, but the article does not discuss KGI's own business.
