Kaohoon Online has selected stocks with a high-growth potential for investors to consider on November 23, 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 stated that after visiting the i-Cattery center and was confident of ITC’s commitment to innovation as a crucial part of its long-term growth strategy. This R&D center will facilitate faster and cheaper research and product testing activities. ITC targets to increase its revenue contribution of new products to 15% in 2025F from 13% in 9M23.
KGI reiterated its positive view on ITC’s 4Q23F earnings momentum QoQ and maintained its net profit forecast at Bt2.32bn (-48% YoY) in 2023F and Bt2.87bn (+23% YoY) in 2024F. KGI maintained a rating of Outperform with a 2024 target price of Bt24.00, based on PER 25x.
Maybank Securities (Thailand) (MST) gave a “BUY” recommendation on BCPG Public Company Limited (SET: BCPG) with a target price at ฿11.10/share.
MST expected the stock has been overly punished on concerns over ‘adder’ expiration. To offset the impact of 70-80% adder expiration in FY25-26E, BCPG plans to aggressively grow capacity to 2.1GWe in FY25 from 458MWe at end-FY22. MST thought that BCPG’s progress is in stark contrast to its 44% share price drop in the past 4 years as adder expiration started in 2020.
BCPG is currently trading at a 12M forward P/E ratio of 14.3x, -1SD below its peers 5-year 12M forward PER, and vs other covered peers average of 26.4x (GULF, GPSC and BGRIM).
