KTB Securities (KTBST) recommended “BUY” Bangkok Chain Hospital Public Company (BCH) share with the target price of ฿19.10/ share based on DCF method (WACC=7%, Terminal growth = 3%). BCG recorded its 2Q2019 net profit of THB 244 million, decreasing 2.4% YoY, which was lower than the market had expected at 6%. BCH profit has decreased when compared to the same previous last year due to a provision for employee benefit derived from new labor law and the opening of Kasemrad Ramkhamhaeng at the end of last year.Furthermore, KTBST expected 2019 of BCH net profit to grow 6% YoY to THB 1.16 billion with 3Q2019 earnings to return to a strong growth path given the benefit of seasonality and SSO revenue. The share price of BCH has declined 16% in the past 3 months due to an increase of only 6% of 1H19. However, KTBST believed BCH’s share will come back to outperform. KTBST also sees a rebounding in view of better 3Q2019 outlook from a 3Q2019 profit growth.【อ่านข้อความเต็ม】