Kaohoon’s Top News on June 10, 2021

Asia Plus Securities (ASPS) anticipated massive foreign fund inflows as the government’s goal of giving 100 million doses by the end of 2021 is proceeding well. Thailand had the biggest month-to-date foreign net buying in Asia, at 4.6 billion baht, for June. Thus, ASPS has recommended a “BUY” rating for large-cap stocks with strong fundamentals and a price laggard. BDMS, AOT, and ADVANC are the top picks. Meanwhile, seven hospital stocks advanced significantly yesterday (June 9), led by CHG and RJH, as Thailand approved independent vaccine procurement.

 

Electricity Generating (EGCO) announced that the Linden Cogen Facility in the United States is ready to generate profit in 2Q21. The company has set aside up to 150 billion baht for a five-year aggressive strategic investment plan, with the expectation of constantly acquiring new projects. Analysts have given a “BUY” recommendation with a target price of 230 baht per share.

 

Banking stocks edged higher Wednesday (June 9) in response to the progress of the immunization program. Analysts forecast the sector’s total net income to climb by 14%, indicating that the stocks are in a sideways trend due to the sector’s lagging prices and low P/E-P/BV. Analysts recommended a “BUY” rating on KBANK, BBL, SCB, and KKP.

 

Sansiri (SIRI) expected an upward revision to sales and transfers of ready-to-move properties in 3Q21 from an estimated 31 billion baht, owing to the domestic economic improvement and strong demand for housing.

Thai Vegetable Oil (TVO) is expected to maintain a positive operating result in 2Q21, albeit with a 13-15% increase in selling prices. Analysts predicted the company to distribute a 1.65 baht interim dividend. Meanwhile, full-year net profit is expected to reach 2,585 million baht, up 56% on the back of an improved sales spread. Analysts upgraded the rating on TVO to “BUY” with a target price of 38.25 baht per share.