Stocks in Focus on July 2, 2021: AP and MTC

Stocks in Focus on July 2, 2021: AP (TP at ฿9.80/share) and MTC (TP at ฿68.00/share).


Kaohoon Online has selected stocks with a high-growth potential for investors to consider on July 2, 2021.

 

Maybank Kim Eng Securities (Thailand) (MBKET) has given a “BUY” recommendation on AP (Thailand) Public Company Limited (AP) with a target price of ฿9.80/share.

MBKET expected AP’s earnings in 2Q21 to expand YoY and have a tendency to accelerate new project launches in 2H21 worth over 40 billion baht (expect 16 projects in 3Q21 and 12 projects in 4Q21), helping to add more backlog. Combining with the current share price, trading only 6x PE with an outstanding dividend of around 5.5% it adds more to its attractiveness.

 

Maybank Kim Eng Securities (Thailand) (MBKET) has given a “BUY” recommendation on Muangthai Capital Public Company Limited (MTC) with a target price of ฿68.00/share.

We expect MTC to report 2Q21F earnings of 1.38 billion baht, up 9% YoY and flat QoQ as a well opex control and strong fee income growth to offset with a lower NIM (down 60bps QoQ). MBKET saw limited impact on SAWAD-GSB promotional rate extension and BoT potential change in ceiling rate.

 

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