Headline: New shares of YGG to be traded today; Analysts give a target price at THB13.00
Yggdrazil Group Plc. (SET: YGG) has allotted 360 million new shares to a right offering (RO) to be traded on March 28, 2022. Analysts anticipate profit taking at YGG, which will likely cause shares to fluctuate this week, giving a target price of THB13.00 (30 percent upside).
Headline: Analysts choose KBANK and SCB as top banking sector picks for 1Q22 results and fintech leadership
Analysts select Kasikornbank Plc. (SET: KBANK) and Siam Commercial Bank Plc. (SET: SCB) as top banking sector picks, noting their market leadership in digital assets and fintech, as well as their outstanding profit outlook for 2022. In 1Q22, KBANK (target price: THB172.00) reported a net profit of THB10,930 million, up 2.9 percent YoY and 10.4 percent QoQ, while SCB (target price: THB150.00) posted earnings of THB10,845 million, up 7.5 percent YoY and 37.7 percent QoQ.
Headline: Tao Bin to strengthen FSMART profit in 1Q22
Forth Smart Service Plc. (SET: FSMART) expects that its 1Q22 operating performance will maintain its momentum following an improvement in the COVID-19 situation, and the company plans to increase the number of Tao Bin vending machines with the goal of establishing this robotic barista as a new s-curve business.
Headline: The Administrative Court to hold an emergency hearing today to rule on the EASTW’s complaint
The Administrative Court of Thailand will hold an emergency hearing today to determine Eastern Water Resources Development and Management Plc. (SET: EASTW)’s request for temporary protection in response to a complaint filed against the Treasury Department’s selection committee for the selection of a private company to manage and operate major water distribution pipeline systems in the Eastern Seaboard. The Treasury Department, however, has affirmed that the proper legal procedure was followed.
Headline: ESSO and BCP are top pick as refinery shares see massive upside from rising oil prices
Suwat Sinsadok, Managing Director of FSS International Investment Advisory (FSSIA), said that rising global oil prices have had a major impact on the cost of petrochemicals, while refinery stocks have benefited from a rapid increase in refining margins. Thus, FSSIA upgraded ESSO-BCP to top picks, citing the possibility of a massive price bounce in the next 1-2 months. ESSO’s target price is THB12.00, while BCP’s target price is THB40.00. Meanwhile, recommend buying TOP and PRC on dips.
