NagaCorp stocks gain favour with analysts

Smartkarma has praised NagaCorp for its performance throughout the Covid-19 pandemic.

Cambodia.- Analysts at the investment insights platform Smartkarma have issued a “buy” signal for stocks of the Cambodian integrated resorts company NagaCorp.

The analysts said the NagaCorp had managed the Covid-19 pandemic and could expect a fast recovery in 2021.

They said they expected there would be positive earnings news when NagaCorp’s 2020 results are released.

Smartkarma said: “Our continuing view is that by most measures, the company has performed well during the pandemic and should be poised to resume its steady move north here.

“In our view, the timing is right for getting off the sidelines and seeing the entry point here as potent.

“With the endgame of the pandemic in early stages, the price still off the 52-week high and the possibility of breakthrough news on the imminent earnings release, we see minimal downside risk vs a resumption of price appreciation from here forward.

“Overall Nagacorp’s strong balance sheet will take it comfortably through to the end of the pandemic.”

The company, which runs NagaWorld, announced last week that it would award nearly 19.23m shares to employees, including to the firm’s directors.