Kaohoon Online has selected stocks with a high-growth potential for investors to consider on January 31, 2023.
KGI Securities (KGI) has given an “Outperform” rating on Land and Houses Public Company Limited (SET: LH) with a target price at ฿12.20/share.
KGI expected LH to report a 4Q22F normalized profit of Bt2.2bn (+6% YoY, +18% QoQ), propelled by: i) strong low-rise transfers as well as rental business, and ii) recovery in share income from associates. Looking ahead to 2023F, the company’s fundamentals are expected to remain positive given an expected solid low-rise performance and strong growth in rental business. KGI fine-tuned up its 2022F-2023F earnings projections by 3%/6% and re-iterate a rating of Outperform with a new target price of Bt12.20, from Bt11.20.
Asia Plus Securities (APS) has given a “BUY” recommendation on Central Pattana Public Company Limited (SET: CPN) with a target price at ฿79.00/share.
APS stated that CPN set a high revenue growth target at CPN CEO Forum, expecting 2023 revenue to grow 15-25% from 2019 (pre-COVID) or 20-30% growth from 2022. In the next five years (2023-2027), CPN expects revenue CAGR of 14-16% through mixed-use development, mainly from shopping malls and expanding to other businesses aside from office building, residential, and hotel, with an investment budget of B135bn. CPN plans to sell assets to REIT in 2H23 to fund the project.
APS reiterated BUY recommendation on CPN with a fair value of B79 (DCF, 7.5% WACC), benefiting from country reopening, profit is expected to rebound further in 4Q22-1Q23 (both yoy and qoq). CPN’s revenue target is 10% higher than APS’ projection, having upside on the forecast. APS noted that it might revise up forecasts after the 4Q22 earnings report.
