KTBST Securities forecasts the SET Index will break over 1,650 in the next two to three weeks, with a possible upside to 1,700. Despite the prices of most stocks having already priced in or have shown a gain for a while, KTBST believes that there are still some stocks with room to increase due to their strong and unique supports. Thus, KTBST has selected five stocks with a Compound Annual Growth Rate (CAGR) of more than 20% in 2021-23. SINGER, GULF, LEO, AS, and ASK are among the top picks.
Singer Thailand Public Company Limited (SINGER): KTBST maintains a BUY rating on SINGER with a target price of 50 baht per share, citing the company’s plans to double its loan portfolio to 20-30 billion baht within three years and expand its branch to more than 7,000 in the next three to five years. Thus, KTBST raised SINGER’s profit forecasts for 2021-22 by 3% and 18%, respectively, to reflect a stronger base as a result of the cooperation with BTS group.
Gulf Energy Development Public Company Limited (GULF): KTBST raised its target price on GULF to 48 baht, stating significant contributions from an investment in INTUCH and AIS. Additionally, GULF expects to invest in new projects both domestically and abroad in order to increase its energy portfolio to 2.5 GW.
Leo Global Logistics Public Company Limited (LEO): KTBST holds a BUY rating on LEO and a target price of 14 baht in anticipation of a brighter earnings outlook in the second half of 2021 on elevated freight rates and growing demand, and there is strong growth potential from the partnership withChina Post and Thailand Post Distribution. Additionally, LEO has the capacity to secure containers amid container shortage.
Asiasoft Corporation Public Company Limited (AS): KTBST set a target price of 21 baht per share on AS, highlighting the company’s expectation that mobile game revenue will grow to 30% of overall revenue by 2021, owing to increased demand for mobile games and their high returns. Also, AS aims to invest in Vietnam, but must first wait for the lockdowns to be lifted.
Asia Sermkij Leasing Public Company Limited (ASK): KTBST has given a target price of 42.50 baht . ASK will raise its loan portfolio and revenue by 15% this year as a result of a capital increase. Both new and used truck loans are likely to expand in response to the economic recovery and the high-growth logistics industry. Profitability is expected to grow at a CAGR of 25% between 2020 and 2023, with a stable dividend payout of more than 4% annually.