Stocks in Focus on March 24, 2020: BAM and CPALL

Kaohoon Online has selected stocks with a potential of high growth for investors to consider on March 24, 2020.

 

Maybank Kim Eng has given a “BUY” recommendation on Bangkok Commercial Asset Management Public Company Limited (BAM) with a target price at ฿25.00/share.

Maybank initiates a BUY call on BAM as it is the country’s largest distress assets manager with a strong asset base accounting for 47% of the industry. This can translate to cash flow of more than THB10b pa while offering dividend yield of over 5%. Plus, its business model can withstand volatile economic conditions. Given NPLs outlook remains accelerating coupled with lower credit cost, it is positive to the company’s growth in the mid to long term.

 

Krungsri Securities (KSS) has given a “BUY” recommendation on CP All Public Company Limited (CPALL) with a target price at ฿88.00/share.

KSS states that the partial lockdown order for Bangkok amid the rising number of national lockdowns worldwide has triggered a rush to stock up on food and essential products. This will lift revenues for CPALL and MAKRO (hold 38% stake). CPALL is also a chief beneficiary of the refund of electric meter deposits totaling Bt30b (21m households).