Kaohoon’s Top News on June 11, 2021

Foreign investors focused on 16 large-cap domestic stocks with sound fundamentals that are currently laggard and offer a potential upside of 3.50-54.10%. Charoen Pokphand Foods (CPF) was the top pick with a 54% upside, followed by EGCO, MTC, BBL, and RATCH.

 

3 marine shipping stocks (PSL, RCL and TTA) edged higher yesterday (June 10) after freight rates soared 61.00 points to close at 2,481.00 points, picking up for the first time in 9-day, as the global economy is recovering from the Covid-19 crisis. Analysts have given a “BUY” recommendation on Thoresen Thai Agencies (TTA) with a new target price of 19.40 baht per share. 

 

Bangkok Commercial Asset Management (BAM) is predicted to have a net profit of 349 million baht in 2Q21, an increase of 157 percent from the previous year’s net profit of 2.35 billion baht. According to the management team, the company aimed at increasing its distribution channels, as well as retained its target of 17 billion baht in loan purchases this year.

 

Senadevelopment (SENA) anticipated Q2 sales to be stronger than Q1 as in April-May, the company already recognized about 1,500 million baht revenue, leading the total revenue for the first five months to reach 2,500 million baht.  Additionally , SENA planned to open 18 new projects for a total of 16,764 million baht, with a great focus on small and low-cost homes.

 

J.R.W. Utility (JR) expected to acquire a mega project such as the MRT Yellow and Pink Line phase 2 worth more than 6 billion baht. The acquisition would raise JR’s backlog to 10 billion baht, which could result in an outstanding performance to reach a record high continuously in the next 2-3 years. Meanwhile, the addition in FTSE Micro Cap under FTSE All World Index, which will take effect at the closing on June 18, 2021, raises the attractiveness of the company in both domestic and international investors’ eyes.

 

Ekachai Medical Care (EKH) believed the China’s 3-child policy to stimulate demand for in vitro fertilisation (IVF) among Chinese clients. Besides this, EKH expected to revise up its revenue target growth by 20% to reflect a significant demand for Covid-19 testing services. Analysts projected a net profit of 40-50 million baht in 2Q21, recommending “ BUY” with a target price of 8.00 baht per share.