บทวิเคราะห์ (Research)

HMPRO : Share repurchase, a positive catalyst HMPRO announced a share repurchase program, with the total amount of THB7b, buying up to 800m shares, with the share price averaging THB8.75. This should be a positive catalyst to the share price as it is now trading at 14x 2025F P/E, that is more than -2SD below its long-term average. We like HMPRO for its leadership in the home-improvement segment, especially in urban areas. We view the current deep discount of valuation as unjustified, given its quality business, reflected through its highest ROE in the sector of 25.1% (2025F).