Kaohoon Online has selected stocks with a high-growth potential for investors to consider on March 22, 2022.
KGI Securities has given an “Outperform” rating on Total Access Communication Public Company Limited (SET: DTAC) with a target price at ฿60.00/share.
KGI Securities expected DTAC to report a 1Q22F core profit of Bt674mn (+16% QoQ, -36% YoY). Growth QoQ would be from an improving handset margin and lower SG&A/Sales. The slowdown YoY would be from increasing costs and greater SG&A offsetting growth in revenue.
Though KGI Securities maintained its net profit forecasts at Bt4.0bn in 2022F and Bt5.5bn in 2023F, the securities company raised the target price for DTAC from Bt43.50 (no merger) to Bt60.00 (merger with synergy from cost savings) to factor in more progress toward the amalgamation with True Corporation (SET: TRUE).
Note that the company and TRUE finished the due diligence and their Board of Directors approved the merger. Hence, KGI Securities’ rating for DTAC is upgraded from Neutral to Outperform.
KGI Securities has given an “Outperform” rating on Bangkok Commercial Asset Management Public Company Limited (SET: BAM) with a target price at ฿25.00/share.
KGI Securities stated that it sees signs of BAM’s profitability getting back on track as its cash collection has improved consistently for 4-6 quarters. Purchasing NPLs at desirable prices and forming a JV AMC with a bank would provide profitability upside. Meanwhile, the counter has an undemanding valuation with PE and PBV trading at only half of its peers. KGI Securities rated BAM Outperform with a target price of Bt25.00, using PE of 25x (implied PBV 1.75x).
