Stocks in Focus on October 6, 2020: TU and TOP
Stocks in Focus on October 6, 2020: TU (Asia Wealth Securities TP at ฿18.00/share) and TOP (Maybank Kim Eng TP at ฿44.00/share).
Stocks in Focus on October 6, 2020: TU (Asia Wealth Securities TP at ฿18.00/share) and TOP (Maybank Kim Eng TP at ฿44.00/share).
6 ต.ค. 2563

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on October 6, 2020.
 
Asia Wealth Securities has given a “BUY” recommendation on Thai Union Group Public Company Limited (TU) with a target price at ฿18.00/share.
AWS expected TU’s earnings in 3Q20 at Bt1.83bn, up 33%YoY and 7%QoQ, the revenue in 3Q20 from the processed seafood grow YoY, but frozen seafood sales down YoY at a lower rate but still growing QoQ.
Meanwhile, AWS expected a loss in Red Lobster earnings outlook about Bt200-300mn from the reopening of the country. Also, the gross profit margin in 3Q20 slightly dropped QoQ on the back of higher frozen seafood which has lower profit margins than processed seafood so that in 9M20F, the earnings accounted for 88% of the forecast.
 
Maybank Kim Eng has given a “BUY” recommendation on Thai Oil Public Company Limited (TOP) with a target price at ฿44.00/share.
Maybank expected the share price of TOP has previously fallen to reflect weak 3Q20 earnings outlook at some extent while business remains resilient. The share is traded at low PBV of only 0.63x. Coupled with products prices (gasoline, diesel) and GRM are recovering in the near term, which would boost 4Q20 to improve better.