Kaohoon Online has selected stocks with a high-growth potential for investors to consider on September 12, 2023.
KGI Securities (KGI) has given an “Outperform” rating on Central Pattana Public Company Limited (SET: CPN) with a target price at ฿83.00/share.
KGI stated that after CPN’s decent 1H23 performance with a normalized profit of Bt6.31bn (+41.2% YoY), the positive momentum should continue in 2H23. Given the continued expansions with more mixed-use projects, KGI maintained its positive view toward CPN’s growth outlook over the longer term.
KGI maintained its earnings projections and rated the counter Outperform with a mid-2024 target price of Bt83.00 (DCF: WACC 7.8%, TG 4%).
Maybank Securities (MST) has given a “BUY” recommendation on Charoen Pokphand Foods Public Company Limited (SET: CPF) with a strategic target price at ฿22.00/share.
MST reiterated BUY on CPF given the improving outlook for swine prices in Vietnam and China, and lower feed costs. These will help narrow losses in 3Q-4Q23E and possibly drive a turnaround into profit in FY24E.
MST stated that CPF stands to benefit from recovery in domestic consumption, driven by government stimulus. MST believed CPF will gain from the government’s digital wallet scheme as CPF has 5,101 Five Star and Chester food outlets nationwide.
The brokerage firm rolled forward its valuation base to next year and raised its target price to to THB25.60, based on 0.9x FY24E P/BV. As the stock is trading at just 0.7x FY24E P/BV, nearly 2SD below its long-term average of 1.0x, MST saw limited downside risks.
