Stocks in Focus on November 12, 2021: JMT and BGRIM
Stocks in Focus on November 12, 2021: JMT (Maybank Kim Eng Securities TP at ฿58.00/share) and BGRIM (KGI Securities TP at ฿60.75/share).
Stocks in Focus on November 12, 2021: JMT (Maybank Kim Eng Securities TP at ฿58.00/share) and BGRIM (KGI Securities TP at ฿60.75/share).
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Kaohoon Online has selected stocks with a high-growth potential for investors to consider on November 12, 2021.
 
Maybank Kim Eng Securities (Thailand) (MBKET) has given a “BUY” recommendation on JMT Network Services Public Company Limited (JMT) with a target price at ฿58.00/share.
MBKET expected JMT’s 3Q21 net profit at 310 million baht (+7% QoQ , +9% YoY), outperforming the financial sector, with a V-shape recovery in September. The increase in fully amortized help support gross profit margin +70bps and 4Q21 profit is expected to hit a new high of 400 million baht. And in 2022, MBKET expected profits to accelerate 37%.
 
KGI Securities has given an “Outperform” rating on B.Grimm Power Public Company Limited (BGRIM) with a target price at ฿60.75/share.
BGRIM announced it has entered into a subscription agreement with reNIKOLA Sdn. Bhd  (reNIKOLA). Their assets total 553MW consisting of i) 88MW solar power plants (in operation) ii) 90MW solar power plants (targeted to close deal within 1Q22), and iii) 375MW solar power plants (SCOD in 2023). KGI estimated net income contributed to BGRIM should be about 100 million baht in 2022 (178MW) and 210 million baht in 2023 (full capacity operation of 553MW). IRR and WACC are about 8% and 5.6%, respectively. Thus, value added from reNIKOLA to BGRIM should be +Bt0.8/share.
KGI maintained its current rating of Outperform with a DCF based target price of Bt60.75 (not including value added from the reNIKOLA project).
 