Stocks in Focus on November 28, 2019: BCPG and CK

Stocks in Focus on November 28, 2019: BCPG (KGI Securities TP at ฿21.00/share) and CK (Asia Wealth Securities TP at ฿22.00/share).

Kaohoon Online has selected stocks with a potential of high growth for investors to consider on November 28, 2019.


KGI Securities (KGI) has given an “Outperform” rating on BCPG Public Company Limited (BCPG) with a target price at ฿21.00/share.

In the analysis, KGI sees a positive view on BCPG acquiring a 100% stake in Nam San 3A hydropower plant (69MW). This would provide an opportunity for the company to further invest in hydropower projects in Laos.

In this regard, KGI included ฿1.00/share upside from the Nam San 3A project due to the expectation of higher tariffs for switching off-taker from EDL to EVN. BCPG has all types of renewable energy, which mitigates climate risk against El Nino and La Nina.

Thus, KGI upgrades the counter to Outperform, from Neutral, with a 2020 DCF target price of Bt21.00, which includes Bt1/sh upside from Nam San 3A new PPA with EVN. New acquisition in Laos hydropower plants would provide a substantial upside to our target price. BCPG is our top pick in terms of valuation and dividend yield.


Asia Wealth Securities (AWS) has recommended CH. Karnchang Public Company Limited (CK) in its Daily Strategy with a target price at ฿22.00/share.

AWS has asserted that the company is preparing to sign the fourth contract of Rama 3-Dao Kanong project (bridge) worth Bt 6.6 bn on 3 Dec 19, while the remaining contracts (contract 1-3) have been asking for the approval. All contracts are expected to be signed within Jan 20. (Prachachat)

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