Stocks in Focus on June 29, 2020: CK and SEAFCO

Stocks in Focus on June 29, 2020: CK (Country Group Securities TP at ฿29.75/share) and SEAFCO (KTB Securities TP at ฿6.80/share).

Kaohoon Online has selected stocks with a potential of high growth for investors to consider on June 29, 2020.

 

Country Group Securities (CGS) has upgraded its target price of CH. Karnchang Public Company Limited (CK) from ฿17.75/share to ฿29.75/share with a “BUY” recommendation.

CGS stated that it rolled over its target price to 29.75/share on 2021F profit forecast, which expected to grow 60% YoY, buoyed by its subsidiaries (BEM, CKP and TTW). More importantly, BEM is expected to win the bidding for the new Orange Line rapid system in October. The winning would reward CK a construction project around 120 billion baht.

 

KTB Securities (Thailand) (KTBST) has given a “BUY” recommendation on Seafco Public Company Limited (SEAFCO) with a target price at ฿6.80/share.

KTBST stated that SEAFCO outperformed SET Index by 17% in the past three months. The company would benefit from 1) good progress for various maga projects, which SEAFCO could receive bored pile works, 2) good backlog outlook with another 800 million baht of contract signed earlier, 3) expecting a profit to rebound in 2021E by 13% YoY, 4) low valuation at 10.5x PER, compared to14.5x average and 24x in SETCONS.