Kaohoon Online has selected stocks with a high-growth potential for investors to consider on January 25, 2023.
KGI Securities (KGI) has given an “Outperform” rating on TMBThanachart Bank Public Company Limited (SET: TTB) with a target price at ฿2.08/share.
KGI stated that TTB provided more information on the use of its tax shield during 2024-2028. The amount should help the bank pay near zero tax through 2024-2028. Meanwhile, KGI fine-tuned its NIM assumption down 10bps in 2024/2025.
To reflect the revisions, KGI revised its 2024/2025 earnings forecasts up by 6%/8%. TTB raised its dividend payout ratio to 55% in FY2023 and KGI thought the bank’s solid Tier I at 17% will enable it to maintain a high dividend payout policy going forward. With higher profitability, KGI re-rated PBV multiple to 0.85x (from 0.75x) and reached a new 2024 target price of Bt2.08, from Bt1.84. KGI upgraded TTB to Outperform, from Neutral.
Liberator Securities (LIB) has given a “BUY” recommendation on Master Style Public Company Limited (mai: MASTER) with a target price at ฿81.00/share.
LIB expected net profit in 4Q23 at 127 million baht (+27% QoQ, +61% YoY), its second consecutive new quarterly high. The increase is boosted by strong seasonal demand , while also starting to realize income from share from investment.
2024 earnings were expected to continue growing to 569 million baht (+48%), while rolling over to new 2024 target price at THB81.00 per share.
