Kaohoon Online has selected stocks with a high-growth potential for investors to consider on November 1, 2023.
KGI Securities (KGI) gave an “Outperform” rating on i-Tail Corporation Public Company Limited (SET: ITC) with a target price at ฿24.00/share.
KGI revised up its net profit forecasts for ITC by 12% to Bt2.32bn (-48% YoY) in 2023F and Bt2.87bn (+23% YoY) in 2024F. KGI had a more positive view on earnings’ momentum as the destocking problems in the US and Europe seem to be at an end. Sales revenue should increase more than 20% QoQ in 4Q23F backed by increased sales volume and price adjustment. GPM should also improve QoQ in 4Q23F thanks to economies of scale and tuna price declining to US%1,700/ton (-6% QoQ).
KGI upgraded ITC to Outperform, from Neutral, and revised up its 2024 target price to Bt24.00, from Bt19.70, based on PER 25x (from PER 23x).
Maybank Securities (Thailand) (MST) gave a “BUY” recommendation on Ichitan Group Public Company Limited (SET: ICHI) with a target price at ฿16.00/share.
MST stated that the stock rebased in the past five days for almost 3%, pressured by the reports of a potential rise in sugar price. However, the Thai cabinet yesterday resolved to classify the commodity as a controlled good, erasing potential risks to ICHI’s costs.
Meanwhile, 3Q23 earnings should grow QoQ and YoY from the higher utilization rate, supporting its profit.
MST viewed that the rebase was an opportunity to accumulate.
