Stocks in Focus on November 25, 2021: TTB and TACC

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on November 25, 2021.

 

Maybank Kim Eng Securities (Thailand) (MBKET) has given a “BUY” recommendation on TMBThanachart Bank Public Company Limited (TTB) with a target price at ฿1.35/share.

MBKET expected TTB’s 2022-23 earnings forecast to grow 15-25%. The cost-to-income ratio will decline YoY from merger expenses already recorded in 2021. Meanwhile, revenue will improve from the sale of new products to the bigger customer base and asset quality will improve, while valuation is still relatively cheap.

 

KGI Securities has given an “Outperform” rating on T.A.C. Consumer Public Company Limited (TACC) with a target price at ฿10.50/share.

KGI Securities stated that at TACC’s analyst meeting, management guided that the 4Q21 performance would be stronger QoQ. The securities company believed TACC will deliver stronger earnings from growth in both B2B and B2C business segments going forward. KGI Securities trimmed TACC’s 2021F net profit 2.3% to Bt206mn (+9.3% YoY) and raised 2022F net profit 8.8% to Bt260mn (+26.4% YoY).

KGI Securities maintained a rating of Outperform with a new 2022 target price of Bt10.50 (PE of 24.5x, B0.25 SD), from Bt10.20.