International Security Companies Downgrade 11 Thai Shares, Seeing “Bear Market” Outlook
Out of 13 shares of major listed companies in Thai stock market, 11 of them got downgraded by international security companies.
January and February are the periods of announcing a financial statement of the previous year. As Thai banks and majors listed companies in Thailand already reported their statements, international security companies had also made an analysis on some specific companies. Surprisingly, these major companies had been either downgrade or lowered their target price, sending signals for the possibility of “bear market”
Macquarie downgraded SPRC from Outperform to Neutral, Lowered a target price from ฿12.00/share to ฿11.80/share.
Credit Suisse maintained Outperform recommendation of SCB, lowered a target price from ฿164/share to ฿156/share.
Credit Suisse maintained Underperform recommendation of KTB, lowered a target price from ฿17.0/share to ฿16.20/share
Credit Suisse maintained Neutral recommendation of KBANK, lowered a target price from ฿210/share to ฿208/share.
Credit Suisse maintained Neutral recommendation of SC, lowered a target price from ฿3.70/share to ฿3.40/share.
Credit Suisse maintained Outperform recommendation of BBL, lowered a target price from ฿250/share to ฿249/share.
Credit Suisse maintained Outperform recommendation of TISCO, lowered a target price from ฿105/share to ฿102/share.
Credit Suisse maintained Neutral recommendation of TCAP, lowered a target price from ฿52.0/share to ฿51.0/share.
Credit Suisse maintained Neutral recommendation of TMB, lowered a target price from ฿2.46/share to ฿2.30/share.
Kasikorn Securities downgraded CKP from Outperform to Neutral, maintained a target price at ฿4.94/share.
However, there are three companies that international securities gave a positive outlook.
J.P. Morgan upgraded the recommendation of TU to Overweight, raised a target price from ฿20.0/share to ฿21.0/share.
J.P. Morgan maintained an Overweight recommendation of BH, raised a target price from ฿220/share to ฿226/share.
Credit Suisse maintained Neutral recommendation of KTC, raised a target price from ฿34.0/share to ฿34.5/share.