Stocks in Focus on January 9, 2020: IVL and AMATA

Kaohoon Online has selected stocks with a potential of high growth for investors to consider on January 9, 2020.

 

Maybank Kim Eng has given a recommendation on Indorama Ventures Public Company Limited (IVL) with a target price of ฿43.00/share.

Maybank states that the share price has fallen by -16% in the past three days (most drop in SET50) on concerns about the tensions in the Middle East that is pressuring the global economic recovery. However, after US President Trump’s statement last night, the issue seems to ease which should help relax the pressure and boost speculative in the stock that price previously dropped.

 

KGI Securities (KGI) has given a recommendation on Amata Corporation Public Company Limited (AMATA) with a target price at ฿25.50/share.

KGI views that AMATA has been oversold and there is a chance to rebound with a resistance level at ฿19.00-฿19.60/share (stop loss ฿18.00/share) while the recent plummet might due to concerns over the dispute in the Middle East which could cause a slow down in investment.

However, the tension has been eased while the Budget Act 2020 that is expected to be approved within the first quarter of 2020 should give EEC more progress. Moreover, AMATA’s PE in 2020 is at 10.7x which is lower than the average in the past at 13.8x while the share prices dropped to near its book value at ฿17.00/share (PBV at 1.08x).