INVX Morning Call Jarivun Aiempichitkijkarn

INVX 7/5/2567:Stocks of the day Prefer TRUE and OR / TRUE High Conviction list Outperform, upgraded target price to Bt 10 from Bt 8.5 and Strong Earnings turnaround : TRUE 2024 Earnings Bt 3,100 mn from 1,100 mn ***Program Trading Buy PSL TTA MGI / GS Asia Pacific Weekly Inflows Buy HK+6%,China +4%, Taiwan +1%/ Sector Auto, Insurance outperform Energy***

INVX Prefer MINT High Conviction list/ Outperform tp Bt 44,-1SD, bottom out from 1Q24 Core loss Bt 243 mn low Europe season but recovery in 2Q24 Europe high tourism season,sector pick***KTB High Conviction list,Outperform tp Bt 22,upside risk on NIM***Global 1Q24 below mkt,cut E’24 by 7%, better 2H24,Outperform tp Bt 18.50***SIRI Neutral tp Bt 2.20,1Q24 Earnings preview Bt 1.23 bn-qoq/-yoy / Cautious Auto AH weaker 1Q’24 Earnings preview ***Today no cabinet meeting / Wed.1 April no cabinet meeting / Thursday 2 April IPO SPREAM Bt 2.60,listing in SET ***INVX Event : Thai Econ. Export and GDP Outlook by Dr. Pisit, FPO, Ministry of Finance on Thurs. 2/5/2567 at 15.00, Group/ MS Team*** Program Trading Sell DELTA vs Buy STA STGT ASEAN*** Potential SET 50 Deletion BANPU COM7 KCE SAWAD

INVX 26/4/2567 : Today Event Strategy for Geopolitical risk at 11.00 Group/MS Team***IPO STX Bt 3, MAI/PROCON listing/Downgrade BJC to Neutral, cut target price to Bt 28/Prefer BEM PTTEP SCC CPALL

: Fund Flows Buy Healthcare (BH BDMS BCH) , Commerce CPALL, Telecom ADVANC, Tech DELTA HANA vs Sell Energy PTTEP TOP PTTGC IVL

INVX Invitation : ปรับกลยุทธ์อย่างไรท่ามกลางความเสี่ยงภูมิรัฐศาสตร์ (Group meeting; MS Team) Join the meeting now
Date :
Friday 26, April 2024
Time :
11.00 – 12.00
Speaker :
Dr. Piyasak (Austin), Economist

K. Sithichai (Boat), Strategist

INVX 25/4/2567: Event Today XPG 15.00/ Group/ MS Team and Tomorrow 26/4/2567 Strategy Middle East Impact at 11.00 Group/ MS team*** Research ***BH 1Q24 Earnings high record, beat mkt 12%,higher Ebitda margin vs slower 2Q24 qoq, Neutral BH tp Bt 258( Foreign patients 67% of total Rev.)***MINT Outperform tp Bt 44,Preview 1Q24 Earnings Europe seasonal low with core loss Bt -200-300 mn vs high Europe Earnings season and Fitch ratings upgrade Bond ratings***SCC 1Q24 Earnings inline but better than mkt by 21% with better 2H24 Earnings from Chemical, DCA Accumulate tp Bt 325***Property weak and slow demand from waiting interest cut and no LTV,sector picks AP Outperform tp Bt 15 with new high Earnings’2024,1Q24 Earnings preview Bt 1.02 bn ***Middle East Impact + Healthcare Commerce F&B / Today XD QH Bt 0.10/WHAUP Bt 0.1925/ Analyst meeting today 14.00 PTTEP / Tomorrow 26/4/2567 XD KKP Bt 1.75 and IPO STX (StoneOne) Bt 3.00,MAI/Propcon sector

INVX 23/4/2567: Program Trading Buy OSP CBG RCL JAS JTS/ Research OSP Outperform tp Bt 28,positive 1Q24 Earnings preview Bt 814 mn,+73%yoy/+80%qoq,widen GM and high Sales Overseas( Myanmar high season)***KBANK Neutral tp Bt 140,1Q24 Earnings beat on local ECL, weak loans, NIM,Non-NII***Today XD BBL Bt 5 and Tomorrow Wed.24/4/2567 XD TIDLOR Bt 0.2698/stock dividend 27:1 and TISCO Bt 5.75***IPO TERA Bt 1.75 listing in MAI/TECH( NEX 51% holdings ) *** Flows Buy Consumer Finance MTC TIDLOR benefit wage hike Bt 400 on May1,2567(rotate from bank)/ Buy Power GULF BGRIM GPSC vs Energy Oil to peak at $90***วันนี้ราคาน้ำมันหน้าปั๊มปรับตัวลง / ราคาหมูขึ้น 4 บาท/กิโลและราคาไข่เป็ดปรับตัวขึ้น 0.20 บาท***GS Underweight Thailand with SET Index target 1400

INVX 22/4/2567: GS Downgraded Thailand to Underweight / INVX Downgraded BAY to Neutral / Cut target price to Bt 29(from Bt 35) vs PTTEP Outperform,raised target pricevto Bt 204,base on Brent oil at $85/ GFPT High Conviction list, outperform Bt 15.50,1Q24 Earnings preview Bt 400 mn+69% yoy vs BTG 1Q24 Earnings preview core loss Bt 125 mn( the fourth quarter loss),cut E24 by 10% (BTG outperform tp Bt 27 with better 2Q24)***INVX Econ. expected BOT and BOJ no interest rate change in 2024/FED to cut 2 times in Nov. and Dec.24/Thai GDP24 at 2.5% with upside on Digital Wallet.