Stocks in Focus on July 23, 2021: CPN and TTA
Stocks in Focus on July 23, 2021: CPN (Maybank Kim Eng Securities TP at ฿60.00/share) and TTA (Phillip Securities TP at ฿19.40/share). 
Stocks in Focus on July 23, 2021: CPN (Maybank Kim Eng Securities TP at ฿60.00/share) and TTA (Phillip Securities TP at ฿19.40/share). 
23 ก.ค. 2564

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on July 23, 2021.
 
Maybank Kim Eng Securities (Thailand) (MBKET) has given a “BUY” recommendation on Central Pattana Public Company Limited (CPN) with a target price at ฿60.00/share.
MBKET expected high earnings for CPN in 2Q21 due to a low base from last year, while quarter-on-quarter would be lower due to the impact of Covid-19 that caused fewer people to go to shopping malls.
3Q21 outlook is still slowing down due to the lockdown measure, which could cause further downside risks to CPN if the measure is extended. On the other hand, CPN’s revenue will make a significant recovery if the outbreak is relaxed. Thus, MBKET recommended Buy on Weakness with a DCF target price of Bt60 per share.
 
Phillip Securities (Thailand) has given a “BUY” recommendation on Thoresen Thai Agencies Public Company Limited (TTA) with a target price at ฿19.40/share.
Phillip Securities estimated TTA’s 2Q21 earnings at 641 million baht, representing an increase by 365.9% from a net loss in 2Q last year, while its total revenue is estimated to increase 55.7% to 4,596 million baht.
The increase in revenue and net profit would be due to the increase in BSI by 366%, but with a long lag time. Meanwhile, MML also acquired an additional underwater cable project, which would result in a lower loss compared to the previous year. As for PMTA, its sales remained weak YoY due to the container shortage crisis and high freight rate. Nevertheless, sales in Vietnam recovered to offset some of the loss.
Phillip Securities maintained a positive outlook for 3Q21, expecting sea freight business to continue growing, while receiving higher revenue from MML.
 