Stocks in Focus on 2 July 2019: WORK and TOP

Krungsri Securities stated that Workpoint Entertainment Public Company Limited (WORK) (Recommend “BUY” with the target price at THB35/share) is a turnaround and value stock. As a result of the turnover of WORK has been gradually recovering from the rescheduling of new TV programs which each program has a good response, especially 10 Fight 10.
Meanwhile, WORK has a positive cash flow due to WORK does not need to pay for the 5th and 6th installment of the license. WORK expects to pay a dividend by the cash flow of the company or repurchase the share or purchase other businesses to increase the profit for WORK in the future.

Finansia Syrus Securities has stated that there are 3 positive factors to support THAI Oil Public Company Limited (TOP). Firstly, the U.S and China agreed to a cease-fire on the trade war. Secondly, Looking forward to seeing the oil price to rebound, if the non-OPEC allies decide to cut oil output for 6-9 months (the result will be released today). Lastly, the advantage of strengthening Thai baht which the quantity of TOP short sale is higher in late June, but the share price unexpectedly increases.
The analyst expects a short covering but does not expect much from 2Q/2019 profit because the spread of aromatics is low, even though the refining would recover, which had been priced into the share price. Thus, FS expects a higher profit in the second half of 2019 and recommends “BUY” at the target price of THB75/share.