Stocks in Focus on December 17, 2019: PTTEP and BEM
Stocks in Focus on December 17, 2019: PTTEP (KTB Securities (Thailand) TP at ฿142.00/share) and BEM (Kasikorn Securities TP at ฿11.40/share).
Stocks in Focus on December 17, 2019: PTTEP (KTB Securities (Thailand) TP at ฿142.00/share) and BEM (Kasikorn Securities TP at ฿11.40/share).
17 ธ.ค. 2562

Kaohoon Online has selected stocks with a potential of high growth for investors to consider on December 17, 2019.
 
KTB Securities (Thailand) (KTBST) has reiterated its “BUY” rating on PTT Exploration and Production Public Company Limited (PTTEP) while upgrading the target price from ฿140.00/share to ฿142.00/share.
KTBST is positive about PTTEP’s 5-yr strategy, as the company aims to utilize its acquired assets. To incorporate the company’s guidance, KTBST raises its 2020E revenue assumption by 5% to Bt203.73bn and thus net profit forecast by 2% to Bt39.94bn.
PTTEP’s share price has rebounded 1.7% in a month following a 2% drawdown in the past 3-month period, which KTBST believes partially priced in rising oil prices after OPEC has extended its coordinated production curb.
 
Kasikorn Securities (KS) has reiterated “BUY” rating on Bangkok Expressway and Metro Public Company Limited (BEM) with a target price at ฿11.40/share.
KS expects robust 4Q19 earnings on the startup of commercial operations of Phase 2 of the Blue Line extension. The concessions for the existing expressway will likely be extended by 30 years, resulting in lower amortization expense. The Orange Line, to be auctioned in the form of a PPP, would provide an opportunity for experienced operators like BEM.