Kaohoon Online has selected stocks with a high-growth potential for investors to consider on April 3, 2024.
Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on True Corporation Public Company Limited (SET: TRE) with a target price at ฿9.00/share.
MST reiterated BUY on TRUE due to strong quarterly earnings momentum and its cheap valuation. TRUE’s FY24E EV/EBITDA of 7.3x is 4% lower than the ASEAN telcos’ average of 7.7x despite having a stronger 2-year EBITDA CAGR of 7.3% (vs ASEAN telcos’ average of 5.6%). MST raised its DCF-based TP to THB9.0 from THB8.3 after cutting capex forecasts. Potential re-rating catalyst is positive core profit from 2Q24E onwards.
Krungsri Securities (KSS) has given a “BUY” recommendation on Sappe Public Company Limited (SET: SAPPE) with a target price at ฿115.00/share.
KSS estimate core profit would hit Bt331m in 1Q24F, rising 18% yoy, underpinned by: (i) 20% revenue growth to Bt1.8b driven by strong export sales, and (ii) 1.6 ppt improvement in gross margin to 44.8% on better economies of scale along with stronger revenues.
