TQM Soars 6% on a Rising Demand for Covid-19 Insurance amid Pandemic Resurgence Fears

The share price of TQM Corporation Public Company Limited (TQM) rose฿7.00/shareor 5.71%to ฿129.50/shareas of 15:52 local time in Thailand, with a trading value of 798 million baht. 

KGI Securities (KGI) has given an “Outperform” rating on TQM with a consensus target price at ฿150.70/share.

KGI expected a resistance level for TQM at THB130-135 with a positive sentiment from the latest spread of Covid-19, which could lead to higher demand for Covid-19 insurance. The consensus forecast 28% CAGR on 2020-2023.