Stocks in Focus on April 28, 2021: ICHI and SPALI
Stocks in Focus on April 28, 2021: ICHI (KTBST Securities TP at ฿17.00/share) and SPALI (Phillip Securities TP at ฿24.00/share).
Stocks in Focus on April 28, 2021: ICHI (KTBST Securities TP at ฿17.00/share) and SPALI (Phillip Securities TP at ฿24.00/share).
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Kaohoon Online has selected stocks with a high-growth potential for investors to consider on April 28, 2021.
 
KTBST Securities has given a “BUY” recommendation on Ichitan Group Public Company Limited (ICHI) with a target price at ฿17.00/share
KTBST estimated ICHI’s 1Q21F net profit at Bt120m (-24% YoY, +43% QoQ) as weaker exports to CLMV region amid the latest outbreak should pull down earnings YoY, while solid domestic sales, (especially of small-size green tea and vitamin drinks) as well as profitable Indonesian business should drive earnings growth QoQ. Earnings would continue to grow in 2Q21 led by terpene drink products and contribution from new OEM business.
 
Phillip Securities Thailand has given a “BUY” recommendation on Supalai Public Company Limited (SPALI) with a target price at ฿24.00/share.
Phillip expected sales to increase 5% YoY to 3.7 billion baht in 1Q21. Subscriptions for horizontal projects in 1Q21 grew 41% YoY, but due to the projects are in a process of construction.
The transferring of some condominiums such as Sukhumvit 39 were delayed due to tourist restrictions into Thailand. This could lead to a cancellation, but SPALI also has 25% down payment as well. Thus, an increase in sales revenue in 1Q21 would be mainly from its last year’s backlog.
Nevertheless, due to outstanding performance from its joint venture companies, especially in Australia, profit sharing from said companies would result in an increase of net profit from 61 million baht to 200 million baht, making the company to record an estimate of 20% growth in net profit in 1Q21. SPALI has low P/E at 7x that comes with a 6% dividend yield.
 