AOT concluded 1HFY24 with 61.2m passengers, 51% of its FY24 target of 120m. 2QFY24 results of Bt5.8b were in line with our and consensus expectations. Going into the low travel season in 2HFY24, we see an encouraging tourist momentum, but at the same time, there is still a potential downside if the tourism recovery pace is slower than expected. Maintain BUY. Target price: Bt75.00.
KEY HIGHLIGHTS Update Airports of Thailand (AOT TB/BUY/Bt67.00/Target: Bt75.00) Remain hopeful going into 2HFY24. Banpu (BANPU TB/HOLD/Bt5.30/Target: Bt5.00) Gas prices still pressuring core profit in 2Q24. Central Plaza Hotel (CENTEL TB/HOLD/Bt45.75/Target: Bt46.00) A challenging 2Q24 awaits. Origin Property (ORI TB/BUY/Bt6.10/Target: Bt7.50) Expect improvement in 2Q24, but business outlook remains challenging.
SIA’s FY24 headline net profit of S$2.67b (+24% yoy) was in line with our expectations at 101% of our forecast. FY24’s final DPS of 38 S cents was slightly above our projection. We expect SIA’s earnings to go downhill in the next two years, driven by pax and cargo yield moderation as competition catches up, but still meaningfully above pre-pandemic levels with SIA’s strengthened market leading position. Maintain HOLD on SIA, with a slightly higher target price of S$6.35, based on 1.18x FY25F P/B...
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Consumer companies recorded an average NPAT growth of 14.8% in 1Q24 and retailers recorded an average growth of 151.1% yoy. A recurring theme among consumer companies is that a decline in raw material prices caused margin expansion and profit growth. Retail companies saw triple-digit growth as Lebaran fell in 1Q24 compared to 2Q last year. Maintain OVERWEIGHT. Our picks: ACES and CMRY.
Moody's Ratings (Moody's) has assigned ratings to four classes of notes issued by Cerberus Loan Funding XLVI, L.P. (the "Issuer" or "Cerberus XLVI"). Moody's rating action is as follows: U.S.$216,000,000 Class A Senior Secured Floating Rate Notes due 2036, Definitive Rating Assigned Aaa (sf) U....
Erasca Announces Strategic In-Licensing of RAS-Targeting Franchise Pan-RAS molecular glue ERAS-0015 and pan-KRAS inhibitor ERAS-4001 are potent, oral inhibitors with potential best-in-class profiles in RASm solid tumors Pipeline prioritization and workforce restructuring sharpens focus on programs targeting the highest unmet needs and with highest probability of success Priced concurrent $160 million equity offering Erasca to host conference call and webcast Friday, May 17, 2024 at 8:30 am ET SAN DIEGO, May 16, 2024 (GLOBE NEWSWIRE) -- Erasca, Inc. (Nasdaq: ERAS), a clinical-...
Erasca Announces Pricing of Underwritten Offering of Common Stock SAN DIEGO, May 16, 2024 (GLOBE NEWSWIRE) -- Erasca, Inc. (Nasdaq: ERAS), a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers, today announced the pricing of an underwritten offering of 86,486,486 shares of its common stock at a price of $1.85 per share. All of the shares to be sold in the offering are to be sold by Erasca. The gross proceeds to Erasca from the offering, before deducting the underwriting dis...
HUTCHMED Highlights Sovleplenib Phase III ESLIM-01 Study and Hematological Malignancy Programs Data to be Presented at the upcoming EHA2024 Congress HONG KONG, SHANGHAI and FLORHAM PARK, N.J., May 17, 2024 (GLOBE NEWSWIRE) -- HUTCHMED (China) Limited (“”) (Nasdaq/AIM:HCM; HKEX:13) today announces that topline and subgroup results from the ESLIM-01 Phase III study of sovleplenib, as well as new and updated data related to novel investigational hematological malignancy therapies HMPL-306, HMPL-760 and tazemetostat, will be presented at the upcoming European Hematology Association (“EHA”) Hy...
ThreeD Capital Inc. Issues Early Warning Report in Connection With The Disposition of Securities of infinitii ai inc. TORONTO, May 16, 2024 (GLOBE NEWSWIRE) -- ThreeD Capital Inc. (“ThreeD”) (CSE:IDK / OTCQX:IDKFF) a Canadian based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors, announces that through a series of recent transactions (“Dispositions”), ThreeD disposed of ownership and control of an aggregate of 5,159,000 common shares (the “Subject Shares”) of infinitii ai inc. (the “Company” or “infinitii”)...
Moody's Ratings (Moody's) has assigned ratings to three classes of CLO refinancing notes (the "Refinancing Notes") issued by Generate CLO 5 Ltd. (the "Issuer"). Moody's rating action is as follows: U.S.$3,200,000 Class X-R Floating Rate Notes due 2037, Assigned Aaa (sf) U.S.$288,000,000 Class ...
Moody's Ratings (Moody's) affirmed Aramark Services, Inc.'s ("Aramark") corporate family rating ("CFR") at Ba3, probability of default rating at Ba3-PD, and senior secured rating at Ba2. The senior unsecured rating was downgraded to B2 from B1. The Speculative Grade Liquidity ("SGL") rating was down...
Moody's Ratings (Moody's) has revised the outlook to positive from stable for Advocate Aurora Health (WI), Atrium Health (legally known as Charlotte Mecklenburg Hospital Authority) (NC), and Wake Forest Baptist (NC), and affirmed the Aa3 ratings for Advocate Aurora Health and Atrium Health, and upgr...
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