Stocks in Focus on 15 July 2019: ATP30 and ORI

Stocks in Focus on 15 July 2019: ATP30 and ORI

Finansia Syrus Securities stated that ATP30 Public Company Limited (ATP30) benefited directly from the Eastern Economic Corridor (ECC) project because ATP30 provides shuttle bus services to the staff around Amata industrial city, Chonburi, Amata City, Rayong, and Eastern industrial factories. Finansia expected profit growth of ATP30 this year to grow 20% to ฿48 million with strong cash flow, including no depreciation for 34 buses, the completed installment of 27 buses, and the fund received from warrant conversion. Moreover, ATP30 can also maintain 100% of existing customers and there is an opportunity to obtain new customers from both existing while having a potential to gain more customers from its core business and tourism businesses besides Mega Bangna and Raja Ferry. ATP30 also have an additional profit from selling cars which there are 10 cars ready for sale. Therefore, Finansia recommended “BUY” ATP30 share at the target price of THB2.30/share.

KTB Securities (Thailand) (KTBST) recommended “BUY” Origin Property Public Company Limited (ORI) share at the target price of THB10.00/share. According to a 1H19 pre-sale of ORI at THB 13 billion, increased 12%YoY. Therefore, KTBST expected a 2H19 pre-sale of ORI to grow from opening new projects. Moreover, KTBST has set the share price of ORI with the target price of THB10.00/share based on PER 7.5x to -1SD from the average of PER in the past 4 years since entering SET. Currently, PE is 6.8x, lower than the past average at 10.4x and an average of the sector at 7.6x.