Stocks in Focus on April 21, 2021: KBANK and WICE

Stocks in Focus on April 21, 2021: KBANK (Maybank Kim Eng TP at ฿160.00/share) and WICE (Maybank Kim Eng TP at ฿7.60/share).

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on April 21, 2021.

 

Maybank has given a “BUY” recommendation on Kasikornbank Public Company Limited (KBANK) with a target price at ฿160.00/share.

Maybank stated that although there was a new Covid-19 wave, the CFO of KBANK highlighted that the bank remains comfortable with asset quality conditions and all the bank’s financial targets this year have been maintained. The CEO expected the bank to resume dividend payment from 1H21 operations.

Thus, Maybank maintained 8-11% earnings growth forecasts for FY21-22E but saw an upside risk from the lower-than-expected credit cost and higher fee income growth in 1Q21. The Bt160 target price implies 0.8x FY21E P/BV and 9.1% ROE. Key risk is weaker-than-expected asset quality.

 

Maybank has given a “BUY” recommendation on WICE Logistics Public Company Limited (WICE) with a target price at ฿7.60/share.

Maybank expected WICE’s 1Q21 earnings outlook to remain excellent and to hit another record high at 67 million baht, representing an increase of 13.1% QoQ and 122% YoY, due to the global economic recovery, the subsidiaries in Singapore, Thailand, China, Hong Kong, which are the base of exports to consumers around the world can fully operate.