Stocks in Focus on January 20, 2021: RS and BH

Stocks in Focus on January 20, 2021: RS (KGI Securities TP at ฿28.80/share) and BH (Maybank Kim Eng TP at ฿150.00/share).

Kaohoon Online has selected stocks with a potentially high growth for investors to consider on January 20, 2021.

 

KGI Securities has given an “Outperform” rating on RS Public Company Limited (RS) with an upgraded target price at ฿28.80/share.

KGI raised its 2021 – 2022 net profit forecasts to reflect the company’s guidance for 2021 and to include the benefit from new investment in Chase Group (debt collection, asset management, and personal loans). After the revisions, KGI’s forecasts were raised 17% to Bt839mn (+43% YoY) in 2021 and 37% to Bt1.2bn (+46% YoY) in 2022. The 2021 target price was raised to Bt28.80 (PER 33.4x), from Bt24.60.

 

Maybank Kim Eng has given a “BUY” recommendation on Bumrungrad Hospital Public Company Limited (BH) with a target price at ฿150.00/share.

Maybank stated that BH is the best vaccine play in the Thai healthcare sector. 66% of its normalised income is from international patients, the highest in Maybank’s coverage. Foreign patients were absent in 2020 but should return in 2021. The vaccine should be available in Jul-21 and hopefully Covid will be contained and travel resumes.

Maybank estimated core profit bottomed at THB1.37b in 2020E, and should rebound to THB2.4b in 2021E and THB3.5b in 2022E, a similar level to THB3.7b pre-Covid in 2019.