Stocks in Focus on June 8, 2020: PTT and BAM

Stocks in Focus on June 8, 2020: PTT (DBS Vickers Securities TP at ฿45.00/share) and BAM (Krungsri Securities TP at ฿29.50/share).

Kaohoon Online has selected stocks with a potential of high growth for investors to consider on June 8, 2020.

 

DBS Vickers Securities (DBSVS) has upgraded the recommendation of PTT Public Company Limited (PTT) from “Hold” to “BUY” and raised the target price from ฿37.00/share to ฿45.00/share.

DBSVS raised PTT’s profit forecast for 2020F-2021F by 10% and 8%, respectively, to reflect the rising oil prices which were expected to $40/bbl and $42/bbl in 2020 and 2021, respectively. The security company also revised up the target price of PTT’s subsidiaries as well.

DBSVS expected the revenue in 2Q20 will get better, supported by the refinery and petrochemical businesses. PTT also has good diversification in the energy business along with constant dividend payment. DBSVS expected PTT’s dividend yield this year to be 3.2% and 3.4% next year.

 

Krungsri Securities (KSS) has given a “BUY” recommendation on Bangkok Commercial Asset Management Public Company Limited (BAM) with a target price at ฿29.50/share.

KSS stated that BAM, as a component of the MSCI, will attract the attention of foreign investors. Moreover, the weak economy and rising NPLs offer opportunities for AMC to buy assets at cheap prices and sell at higher prices when the economy recovers.