Kaohoon Online has selected stocks with a high-growth potential for investors to consider on April 25, 2022.
Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on Krung Thai Bank Public Company Limited (SET: KTB) with a target price at ฿18.00/share.
MST stated that it turned more positive and saw a buying opportunity in KTB after it posted 1Q22 results. MST upgraded KTB to BUY from HOLD with a higher TP of THB18 (0.66x FY22E P/BV, 8% ROE) from THB13 after raising its FY22-23E EPS by 26-27% on lower credit cost.
MST expected the market to re-rate the stock in the next few weeks following an analyst briefing. Its valuation gap with other large banks should narrow on strong EPS growth. MST thought that KTB’s valuation is attractive at only 0.5x FY22E PBV and 7x PER vs sector average of 0.8x FY22E PBV and 9x PER.
Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on Charoen Pokphand Foods Public Company Limited (SET: CPF) with a target price at ฿27.90/share.
MST upgraded CPF to BUY from HOLD, saying that the upcoming IPO of subsidiary CP Vietnam (CPV) will give it more flexibility to raise funds for further business expansion as well as unlock value of CPV. This is a new development creating positive sentiment on CPF. CPF’s 1Q22 results are likely to be lacklustre but CPF’s share price dropped 5% in the past three months possibly pricing in the weak 1Q22 profit outlook. Besides, MST saw prospects for improvement in 2Q22 from the favourable livestock prices.
