WHA Corp Earnings Might Benefit From Thailand's Record 1Q FDI Applications — Market Talk

WHA Corp., Thailand's leading industrial estate and logistics developer, is expected to benefit from Thailand's record foreign direct investment applications in 1Q, Citi analyst Preenapa Detchsri says in a note. A stable political backdrop and rising digital and industrial clusters are expected to boost companies like WHA, by improving their earnings visibility through land sales, higher occupancy, stickier tenants, and incremental utilities demand, the note adds. Citi upgrades WHA to buy from neutral and raises its target price to 5.80 baht from 4.50 baht. The stock is up 0.4% at 4.90 baht. (venkat.pr@wsj.com)