Stocks in Focus on January 20, 2020: KTB and CPF
Stocks in Focus on January 20, 2020: KTB (KGI Securities TP at ฿20.20/share) and CPF (Maybank Kim Eng TP at ฿36.00/share).
Stocks in Focus on January 20, 2020: KTB (KGI Securities TP at ฿20.20/share) and CPF (Maybank Kim Eng TP at ฿36.00/share).
20 ม.ค. 2563

Kaohoon Online has selected stocks with a potential of high growth for investors to consider on January 20, 2020.
 
KGI Securities (KGI) has given a recommendation on Krung Thai Bank Public Company Limited (KTB) with a target price at ฿20.20/share.
KGI expects a buying pressure to surge before the announcement of KTB’s yearly dividend payment which is expected to be ฿0.75/share (yield 4.6%). The share would receive positive factors from the investment from the state agencies after the 2020 budget has been approved, and the report of relieving LTV measurement from the Bank of Thailand. KGI sets a support level for KTB at ฿16.20/share, a resistance level at ฿16.70 – ฿17.00/share and a stop-loss point at ฿16.00/share.
 
Maybank Kim Eng has given a “BUY” recommendation on Charoen Pokphand Foods Public Company Limited (CPF) with a revised up target price at ฿36.00/share.
Maybank has revised up its earnings forecast on CPF, reflecting better-than-expected gross margin driven by price recovery. Swine prices in Vietnam rebounded faster than expected while the swine price in Thailand is also recovering. The 4Q19 core profit is forecast to post 80% YoY growth due mainly to a strong contribution from Vietnam’s swine operation.
In this regard, Maybank has maintained its “BUY” recommendation with a revised SOTP-based TP of THB36 from THB34 comprising: CPF at THB9.9 derived from 15x FY20E P/E (3-year average) and CPALL at THB26.1 valued on DCF (WACC 7.2%, LTG 4%).