Kaohoon’s Top News on April 26, 2021

– The board of directors of PTTGC approved to sell ordinary shares in GPSC to PTT totaling 358 million shares, which is equivalent to 12.73% in the total amount of 25 billion baht. The cash flow from this transaction will be used for pursuing the global M&A deals, which mainly focuses on petrochemical industry, as part of the company’s strategic plan to become the chemical flagship business of PTT group, and to reinforce EBITDA Margin to grow by leaps and bounds.

Analysts recommended “BUY” with a target price of ฿78.00/share, expecting extra earnings in 2Q21 from GPSC of 8,600-9,900 million baht.  

 

– SET Index is at risk to fall below 1,500 resistance level as daily Covid-19 cases spiked to nearly 3,000. Analysts believe tougher measures to curb the spreading of virus could put market in panic for a while, but in the long run, it would be positive for the SET, therefore, recommending stocks with good 1Q21 earnings outlook like DCC, GLOBAL, SCC, JMART, SINGER, SAWAD and CHG.

 

– Higher selling prices and sales orders would drive NER to have excellent 1Q21 earnings. NER said full-year revenue would stand at 22 billion baht, marking as a record high for the fifth consecutive year. Analysts expected a net profit of 364 million baht in 1Q, jumping 507.20% YoY, giving “BUY” rating with a target price of ฿6.10/share.

 

– EA set a sales target for electric vehicles (EV) of 1,000 units this year, expecting to deliver 120 units in May and 400 units in July. Additionally, EA has approved the new issuance and offering 10-year debenture in an amount of not exceeding 20 billion baht.

 

– Analysts revised up SCB’s earnings forecast in 2021 to 34,585 million baht, an increase of 27% YoY, on better-than-expected 1Q21 result and also upgraded target price to ฿130.00/share. 

 

– BGRIM’s Annual General Meeting of Shareholders approved Harald Link’s son “Felix Danai Link” as new director. The company also approved a remaining dividend payment for 2020 at ฿0.30/share, with will be payable on 11 May 2021.