Kaohoon Online has selected stocks with a high-growth potential for investors to consider on December 15, 2023.
Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on BCPG Public Company Limited (SET: BCPG) with a target price at ฿11.70/share.
MST maintained a BUY rating on BCPG and raised its end-FY24 TP by 5% to THB11.7 as MST factored in gains from recent project divestments in Japan. MST had a positive view on the divestments as the return on those projects are low and we believe switching to higher-return projects will improve IRR. MST estimated 10% potential upside to its fair value if BCPG reinvests all the proceeds and executes on M&A plan.
Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on Gulf Energy Development Public Company Limited (SET: GULF) with a target price at ฿56.25/share.
GULF’s quarterly core profit is projected to reach its highest level over the next five quarters (4Q23-4Q24), driven by the Commercial Operation Date (COD) of GPD Units 2-4. These Independent Power Producer (IPP) projects generate profits based on availability payments, contributing to an increase in GULF’s IPP production capacity from 49% in 2020 to 69% in 2025.
In the short term, positive sentiment is expected from the decline in US Bond Yields, which reached the lowest point of the year after the FED meeting.
Regarding the issue of increasing electricity prices in the period Jan.-Apr. 2024, while lacking clarity, it did not create a downside to the estimate. This is because the assumption for electricity costs was set at 3.99 baht/unit throughout 2024.
