0347 GMT - SCG Packaging's earnings are likely to improve from this quarter onward, says Thanachart Securities analyst Chak Reungsinpinya in a research report; the brokerage reaffirms the stock's buy rating. Its major cost items and freight rates are falling, while demand for its exported products is expected to pick up with China, in particular, likely to show the most improvement, the analyst says. However, the brokerage cuts its 2022 earnings estimate for the Thailand-listed packaging solutions provider by 11% to reflect the company's disappointing 3Q results, and lowers the stock's target price to THB59.00 from THB63.00. Shares are 2.8% higher at THB55.00. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
November 01, 2022 23:47 ET (03:47 GMT)
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