The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
After strong international tourist arrivals in 2017, Airports of Thailand Pcl surpassed Spain’s Aena SA as the world’s most-valuable airport services company.
Powered by a 75 percent gain since May 1, the operator of Thailand’s main international airports also passed the 1 trillion baht ($31 billion) market capitalisation mark, joining only state-controlled energy company PTT Pcl above that milestone. Shares of Airports of Thailand jumped 9.2 percent in December— rallying for a 10th consecutive month—as government data showed international tourists in November jumped 23 percent.
The stock’s surge was by far the best performer in Bloomberg’s Asia-Pacific Infrastructure Top Peers gauge, with Shanghai International Airport Co. a distant second at 29 percent in the same period. Airports of Thailand gained 4.4 percent in the first two trading sessions of 2018.
Even so, analysts aren’t convinced: their consensus forecast suggests share may fall 12 percent over the next 12 months. The stock has 14 buy recommendations, 10 hold and eight sell ratings.