Stocks in Focus on November 23, 2021: EA and XO
Stocks in Focus on November 23, 2021: EA (Maybank Kim Eng Securities TP at ฿90.00/share) and XO (KGI Securities TP at ฿30.00/share).
Kaohoon Online has selected stocks with a high-growth potential for investors to consider on November 23, 2021.
Maybank Kim Eng Securities (Thailand) (MBKET) has given a “BUY” recommendation on Energy Absolute Public Company Limited (EA) with a target price at ฿90.00/share.
MBKET stated that EA moves forwards with the EV mega trend while the new revenue source, EV Bus, is well supported/protected by the government. Plus, the Ultra-Fast Charge technology makes the current business plan fit as well with government plans. MBKET expected the EV bus production capacity to be full in the next 4 years and be able to offset the absence of the THB6.50 adder of the power plant.
KGI Securities has given an “Outperform” rating on Exotic Food Public Company Limited (XO) with a target price at ฿30.00/share.
KGI Securities maintained its positive view on XO after the analyst meeting yesterday. Sales revenue is expected to recover as the supply chain disruption problem improves to near normal. Together with an increased marketing budget and activities, KGI Securities believed that the company’s sales will return to above 400 million baht per quarter in 2022F. Moreover, XO’s plan to launch new products and move the capacity expansion forward is a good signal that the management has a positive view on sales growth next year. Despite the possibility of higher-than-expected depreciation expense, the impact should be insignificant to the net profit forecast. Therefore, KGI maintained its net profit forecasts at 460 million baht for 2021F and 560 million baht for 2022F.