Elevator Pitch
Thailand-listed telecommunications company Total Access Communication Public Company Limited (TACYY) (TACJF) (TCCMF) [DTAC:TB] or DTAC currently trades at 6.3 times consensus forward FY2020 EV/EBITDA which is on par with its historical five-year average EV/EBITDA of approximately 6.2 times, but at a discount to its peers. Advanced Info Service Public Company Limited (OTCPK:AVIFY) (OTCPK:AVIVF) [ADVANC:TB] and True Corporation Public Company Limited (OTC:TCPFF) [TRUE:TB] are valued by the market at 8.2 and 9.3 times consensus forward FY2020 EV/EBITDA respectively.
The key re-rating catalyst