Stocks in Focus on February 23, 2021: TU and SPA

Stocks in Focus on February 23, 2021: TU (Trinity Securities TP at ฿18.40/share) and SPA (KGI Securities TP at ฿9.50/share).

Kaohoon Online has selected stocks with a potentially high growth for investors to consider on February 23, 2021.


Trinity Securities has given a “BUY” recommendation on Thai Union Group Public Company Limited (TU) with a target price at ฿18.40/share.

Trinity expected TU to report a net profit growth of 7% in 2021 due to weak sales of canned business without lockdown measures in which the net profit set a high base in 2020 due to this reason. GPM is forecast to drop to 17%, compared to 17.7% in 2020, but still considerably high.

Moreover, the security company expected to see a recovery of Red Lobster in 2021 after receiving an impact from the lockdown measure last year.


KGI has given an “Outperform” rating on Siam Wellness Group Public Company Limited (SPA) with a target price at ฿9.50/share.

KGI stated that a net loss of 78 million baht in 4Q20 was lower than the security company’s and the market’s expectation of around 45 million baht. The hiccup in earnings momentum was mainly due to i) political protests in November 2020, and ii) new wave of local COVID-19 infections in late-December 2020.

Looking ahead, KGI believed the long-term outlook (2022F) should remain intact, backed by i) promising progress on global vaccinations and ii) decreasing global infections.

KGI re-iterated a rating of Outperform with a target price of Bt9.50. Any share price correction regarding the disappointing results should provide an opportunity for long-term investors.


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