Stocks in Focus on October 11, 2021: BBL and TOP

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on October 11, 2021.

 

Maybank Kim Eng Securities (Thailand) (MBKET) has given a “BUY” recommendation on Bangkok Bank Public Company Limited (BBL) with a target price at ฿160.00/share.

MBKET estimated BBL’s 3Q21 earnings at 6,550 million baht, representing an increase by 63% YoY and 3% QoQ, which will outperform other Thai banks. This is due to lower provisions, coupled with a valuation that trades only 0.5x PBV, and the banking sector expects to continue to benefit from accelerated inflation that will support interest rates to return to an uptrend again.

 

Capital Nomura Securities (CNS) has given a  “BUY” recommendation on Thai Oil Public Company Limited (TOP) with a target price at ฿75.00/share.

CNS expected TOP’s normalized profit in 3Q21 at 3,533 million baht, representing an increase by 256% YoY and 4% QoQ, beating previous estimates of 2,087 million baht. The increase is mainly due to higher-than-expected stock gain and gross refinery margin. CNS raised TOP as its top pick from recovery momentum in 2021-2023 that will outperform its sector.