Stocks in Focus on January 28, 2021: MTC and NRF

Stocks in Focus on January 28, 2021: MTC (Kasikorn Securities TP at ฿79.00/share) and NRF (Finansia Securities TP at ฿9.00/share).

Kaohoon Online has selected stocks with a potentially high growth for investors to consider on January 28, 2021.

 

Kasikorn Securities (KS) has given a “BUY” recommendation on Muangthai Capital Public Company Limited (MTC) with a target price at ฿79.00/share.

KS expected MTC’s 4Q20 net profit to grow to an all-time high at Bt1.37bn (+2% QoQ, +21% YoY), spurred by loan portfolio expansion by 5% QoQ and 15% YoY. The security company expected the positive growth momentum to continue in 2021, with profit surging 12% on growing loans and declining cost/income.

 

Finansia Syrus Securities (FSS) has given a “BUY” recommendation on NR Instant Produce Public Company Limited (NRF) with a target price at ฿9.00/share.

FSS revised up NRF’s profit in 2021-2022 to 72% and 29%, respectively. The increase was mainly due to whole-year revenue recognition from City Food, while acquiring two of the world’s largest customers. The company stated that its business in plant-based food grew higher-than-expected at a rate of 58% last year, and expected to accelerate in 2021-2022.

Furthermore, the company advanced into an E-commerce business through a joint venture with “Boosted Ecommerce”. The first deal for the JV is to acquire Prime Labs, the highest-selling complementary foods in Amazon.

FSS rerated NRF’s PE to 35x, representing a PEG of 1.2x, based on three years earnings forward with a CAGR of 29%.

 

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