Stocks in Focus on June 24, 2020: GULF and PTTGC
Stocks in Focus on June 24, 2020: GULF (Country Group Securities TP at ฿44.60/share) and PTTGC (Maybank Kim Eng TP at ฿57.00/share).
Kaohoon Online has selected stocks with a potential of high growth for investors to consider on June 24, 2020.
Country Group Securities (CGS) has given a “BUY” recommendation on Gulf Energy Development Public Company Limited (GULF) with a target price at ฿44.60/share.
CGS stated that GULF is a company with a high D/E ratio at 2.2x, in which the lower interest rate will be a positive factor for GULF. Meanwhile, the company is the most outstanding power generator in the sector with s projection of increasing its capacity to 7.8Gw within 2027.
Maybank Kim Eng has given a “BUY” recommendation on PTT Global Chemical Public Company Limited (PTTGC) with a target price at ฿57.00/share.
Maybank expected PTTGC to benefit from positive factors from global crude oil price rising, boosting PE spreads to accelerate. This is positive to PTTGC’s profitability. PE spreads in 2H20 is forecasted to move around USD850-900/tonne. Coupled with the current share price traded at 0.7x PBV, make it more interesting for accumulation.