Stocks in Focus on December 11, 2019: AOT and BBL
Stocks in Focus on December 11, 2019: AOT (Asia Wealth Securities TP at ฿84.00/share) and BBL (Maybank Kim Eng TP at ฿225.00/share).
Stocks in Focus on December 11, 2019: AOT (Asia Wealth Securities TP at ฿84.00/share) and BBL (Maybank Kim Eng TP at ฿225.00/share).
11 ธ.ค. 2562

Kaohoon Online has selected stocks with a potential of high growth for investors to consider on December 11, 2019.
Asia Wealth Securities (AWS) has maintained its “BUY” recommendation on Airports of Thailand Public Company Limited (AOT) with a target price at ฿84.00/share.
Citing the news from Kaohoon, Mr. Saksiam Chitchob, Minister of Transport Has assigned the Department of Airports to conduct a feasibility study on the collection of outbound passenger fees (PSC) from 6 airports managed by AOT into the working capital account of the Department of Airport.
AWS states that the income from PSC which estimates in 2020 is at 28 billion baht or 40% of the total income in 2020. If PSC’s revenue is collected from the Department of Airport’s working capital. It will affect the 2020 net profit forecast of approximately 8.1% of the 2020 net profit that AWS has estimated at 2.7 billion baht. However, it believes that the issue is still awaiting the Council of State to interpret the law.
It is expected that it will take 3 – 6 months while AWS estimates that if the revenue from PSC is collected into the working capital account of the Department of Airport should be adjusted PSC rates to reflect the increased costs. However, AWS believes that the falling share price is a good opportunity for investment.
 
Maybank Kim Eng has given a recommendation on Bangkok Bank Public Company Limited (BBL) with a target price at ฿225.00/share.
Maybank expects normalized earnings to expand 4-6% in FY2019-20 with strong asset quality and financial statements. BBL has less pressure on OPEX vs other large banks (15% of total loans). The stock is trading on the low valuation of 0.7x of BV with a dividend yield of 3.8%. This makes it attractive for gradual accumulation.