Stocks in Focus on April 8, 2021: CPF and TQM

Stocks in Focus on April 8, 2021: CPF (Maybank Kim Eng TP at ฿45.25/share) and TQM (KGI Securities Consensus TP at ฿150.70/share).

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on April 8, 2021.

 

Maybank Kim Eng has given a “BUY” recommendation on Charoen Pokphand Foods Public Company Limited (CPF) with a target price at ฿45.25/share.

Despite the high comparative base, Maybank expected 1Q21 normalised profit to grow both QoQ and YoY due to recognition of CTI’s earnings, high swine prices and capacity expansion. The impact of increased feed material costs is mitigated by higher production efficiency. Maybank reiterated BUY call with a SoTP-based TP of THB45.25, comprising of CPF (THB28.12) based on 12x PER (-1SD of average PE) and CPALL (THB17.13) based on DCF (WACC 7.2%, LTG 4%).

 

KGI Securities has given an “Outperform” rating on TQM Corporation Public Company Limited (TQM) with a consensus target price at ฿150.70/share.

KGI expected a resistance level for TQM at THB130-135 with a positive sentiment from the latest spread of Covid-19, which could lead to higher demand for Covid-19 insurance. The consensus forecast 28% CAGR on 2020-2023.