Stocks in Focus on November 19, 2020: BTS and ICHI

Stocks in Focus on November 19, 2020: BTS (KGI Securities TP at ฿13.50/share) and ICHI (Krungsri Securities TP at ฿16.40/share).

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on November 19, 2020.

 

KGI Securities has given an “Outperform” rating on BTS Group Holdings Public Company Limited (BTS) with a target price at ฿13.50/share.

KGI stated that it remained optimistic about BTS business outlook as KGI believed the company already passed the worst in 1Q21 (April-June 2020) and will see continued improvement from 2Q21 onward. Note that BTSs 2Q21 net profit was Bt765mn (-40.1% YoY, +72.5% QoQ). Excluding extra gain of Bt203mn, normalized profit was Bt562mn (-46.7% YoY, +84.3% QoQ). Given the improving outlook for 2H21, KGI maintained FY21-22F core-earnings forecasts at Bt4.51bn (-5.7% YoY) and Bt5.74bn (+27.4% YoY).

 

Krungsri Securities (KSS) has given a “BUY” recommendation on Ichitan Group Public Company Limited (ICHI) with a target price at ฿16.40/share.

KSS upgraded FY21F earnings to Bt793m as additional OEM sales will lift utilization. Meanwhile, vitamin drinks and small-bottle green tea is selling well, while the JV in Indonesia remains profitable. Moreover, ICHI is also actively controlling costs. KSS expected FY20F net profit to hit a four-year high of Bt549m.