Stocks in Focus on March 27, 2020: BCPG and TOP

Stocks in Focus on March 27, 2020: BCPG (Krungsri Securities TP at ฿19.80/share) and TOP (Krungsri Securities TP at ฿48.00/share).

Kaohoon Online has selected stocks with a potential of high growth for investors to consider on March 27, 2020.

 

Krungsri Securities (KSS) has given a “BUY” recommendation on BCPG Public Company Limited (BCPG) with a target price at ฿19.80/share.

KSS sees that BCPG’s valuation is cheap at 10x PE vs sector average of 20-30x. Moreover, BCPG pays a consistent dividend yield (5-6% p.a. vs 2% for peers), while its growth will be driven by additional capacity at Nam San 3A and 3B projects in Vietnam, Swan wind project (270MW) in Laos and four solar projects (75MW) in Japan.

 

Krungsri Securities (KSS) has given a “BUY” recommendation on Thai Oil Public Company Limited (TOP) with a target price at ฿48.00/share.

KSS states that TOP has switched 7% of jet fuel output to diesel to minimize the weakness of jet fuel crack spread at US$4 vs. US$12 for diesel crack spread. This reduces jet fuel to 16% from 23% and increases diesel to 40% from 33%. This optimization lifts TOP’s GRM by US$0.6/bbl. KSS expects 1Q20 bottom-line loss at Bt8.6bn (-Bt4.2/sh). 1Q20 loss is priced in. Maintain BUY, TP Bt48.00/share; stress test shows sufficient liquidity to fund CFP

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