Stocks in Focus on August 24, 2020: SINGER and TOP
Stocks in Focus on August 24, 2020: SINGER (Krungsri Securities TP at ฿17.70/share) and TOP (KGI Securities TP at ฿68.00/share).
Kaohoon Online has selected stocks with a high-growth potential for investors to consider on August 24, 2020.
Krungsri Securities (KSS) has given a “BUY” recommendation on Singer Thailand Public Company Limited (SINGER) with a target price at ฿17.70/share.
KSS expected a strong 2Q20 earnings and solid outlook for all business units in 2H20 for SINGER. Store closure had minimal impact on sale of electrical appliances because they have salespersons nationwide. The BOT’s restriction on HP loan interest rate does not affect SINGER because it has been charging low-interest rates.
KGI Securities has given an “Outperform” rating on Thai Oil Public Company Limited (TOP) with a target price at ฿68.00/share.
Following the restructuring of shareholding in PTT and TOP, KGI stated that TOP is expected to book extra gains of 5.6 billion baht via the P&L statement and positive cash flow of 5.9b billion baht from the liquidation process of Thailoil Power.