Maybank Securities (Thailand) Market appraisalThai stocksNext week (25-27 Jul) will move in a frame of 1,530-1560 points, receiving positive factors from the recovery of the Thai tourism sector, while the market’s valuation is not expensive. At the same time, have to wait to follow the US Federal Reserve meeting. including reporting 2Q65 GDP figures andinflationof the United States
The stocks (Top Picks) are recommended as follows:
– KTB (Target price 18) reported 2Q22 profit of 8,358 billion baht (+39%YoY, -4.8% QoQ), 15% higher than our expectation and 22% market forecast, mainly driven by good interest income. Lower provisioning. The NPL trend is down, while the PE is below 7x, which is a cumulative point.
– JMT (Target price 103) Expect 2Q22 earnings to grow QoQ, YoY, driven by continued strong cash collection. and expect profits in the second half to continue to increase due to both good debt collection and the start of revenue recognition from JV with KBANK
– MINT (Target price 42) Earnings in 2Q22 will recover from both the hotel business in Europe where occupancy rate reached 63% in April and average room prices close to the pre-COVID-19 period. Thailand is supported by easing measures. enter the country boost occupancy And the room rate has accelerated as well.
