Avsnitt
-
INVX 11/6/2567: Overweight Food : Sector picks CPF Outperform tp Bt 26/ TU Outperform tp Bt 18 ( BTG Outperform tp 28/GFPT Outperform tp Bt 16) / Intetest rate no rate cut in 2024 at 2.5% , Raised 2024 NIM for large Bank Prefer BBL Ourperform tp Bt 180 and KTB outperform tp Bt 22 vs cut NIM for TISCO KKP *** Funds Flow Buy small cap. and Fx THB depreciation AAI ITC ASIAN / Telecom INTUCH ADVANC vs Sell Big cap. Energy and Bank
-
INVX 10/6/2567: HTC Buy tp Bt 23.50, better 2Q24 Earnings but seasonal weak in 3Q24. New high Earnings in Yr2024 Bt 686 mn/ BEM outperform tp Bt 9.50 not including Orange line +Bt 1.50 / Funds Flow Buy Tech and Healthcare / Prefer HANA / BDMS ***Program Trading Buy Rubber (higher Europe demand) STA STGT TRUBB and INTUCH *** INVX Cautious Petrochem PTTGC extra expenses in PTT Asahi Asset Devaluation booked in 2-3Q24 *** Friday 24/6/2567 ERW-W3 ex-Date ***Politics risk : INVX expected 80% chance for PM Setha and Thaksin to be survive with SET Index target 1350-1400 and 1450-1500 in 4Q24 Budget spending and Digital Wallet vs Short term Rainy season negative sentiment on Property Tourism Conmat and Commerce
-
Saknas det avsnitt?
-
INVX 7/6/2567: Today NVIDIA par split from 1 to 10 shares/ FTSE effective date to add SAFE and TAN in Micro Cap. Index***PDP 2024 Public Hearing 12-13 June 2567 Positive Gulf Outperform target Bt 63 vs Neutral GPSC BGRIM/ Research BTS Neutral / cut target price to Bt 5.90 from Bt 9.60 vs Prefer BEM/ TU Outperform tp 18, bottom Earnings in 1Q24 and better Tuna price( 1H’24 at 1400/ 2H24 at 1700 and margins recovery from PET food/ Flows Buy Tech DELTA KCE HANA and Rubber STA TRUBB *** Program Trading Buy HANA vs Sell IVL BYD
-
INVX : IPO CFARM Bt 1.35 (ชูวิทย์ฟาร์ม ไก่) listing in MAI / Analyst meeting BTS BTSGIF meeting today at 11.00 / Event Thai Corp Day TU&ITC CEO at 15.00 Group/ MS Team/ Stocks of the day Prefer MINT benefit from 2Q high Europe Earnings season ( Football Euro Festival during June 14-July 14,2567) and MTC Earnings growth ‘24 at 22%,better loan growth 19% with lower credit cost ***Gulf High Conviction List tp Bt 63 base on DCF, better 2Q Earnings and benefit from PDP2024, attractive valuation 1.5 SD
-
INVX : BCH High Conviction list Outperform tp Bt 25, base on DCF on 2H24 Earnings recovery vs Kuwait patients impact ( 7% Earnings / Bt 2 Target price) *** Small cap play Prefer AMATA AU KLINIQ TPAC TNP ( positive 2Q24 Earnings positive+q/+y)***GS Bearish tone on Oil ($75-$90) higher oil inventory *** Stock of the Day Prefer AOT GULF***
-
INVX 20/5/2567 : Thailand GDP'2024 downside risk from 2.5%/Food sector Overweight Prefer CPF BTG TU/Research Neutral AAV raised target price to Bt 2.80(from Bt 2.60) but cut STANLY to Bt 206 from Bt 222
: Geopolitical Risk concern: GS expected Brent Oil to hit peak at $ 90/bbl +++PTTEP TOP BCP
: Analyst meeting feedback +++AMATA High Conviction list / Buy tp Bt 29.70/+ TOP high Oil and positive GRM+Geopolitical Benefit PTTEP BCP TOP vs Neutral SAWAD weak NIM( risk of SET 50 deletion vs Prefer TIDLOR)vs Slightly negative BJC ( 25% freefloat and potential add in SET50 on July 2567)
: GS expected 10 yr treasury yield at above 4% through year 2025***Upside Buy Tech
: Program trading Buy RCL TTA / SECURE SABUY/ SCGP
: Fund Flow : Foreign net buy both Equity and TFEX / Flows Buy DELTA HANA/ SCGP PTTGC/ TTA/ STGT AH vs Sell Tourism ERW CENTEL
: Analyst meeting today 10.00 MINT (MS Team), CHG (Zoom), SAPPE( Physical Ramkamhaeng)/ 13.30 HANA (Zoom) /14.00 SIRI (MS Team)/16.00 TCAP (Zoom) -
INVX 17/5/2567: OSP High Conviction List, Outperform, raised target price to Bt 29(from Bt 28), better Sales growth and gross margin /CENTEL Neutral ,raise target price to Bt 46 from Bt 45, meeting negative tone from Centara Grand Pattaya renovation in 2Q-3Q’24( waterside shutdown since May-Nov.24/ room impact )+++BCH Outperform tp Bt 25, bottom out/-1SD, better 2Q to 2H24+++TIDLOR Outperform tp Bt 27, sector pick with dividend upside***Program trading Buy STEC TTA vs Sell ROJNA PIN vs Fund flow Buy DELTA CCET /WHA/GULF GPSC vs Sell CPALL CENTEL***Management Sell EA ***Today IPO LTS Bt 3,listing in MAI/ Consumerจำหน่ายโคมไฟ
-
INVX 16/5/2567: ERW Outperform,raise target price to Bt 6.20 from Bt 6.00/KEX Underperform, cut target price to Bt 3.90/LH Neutral,cut target price to Bt 8.20/ SAWAD Neutral, raise target price to Bt 43 and Downgrade THREL to Underperform, cut target price to Bt 1.60 from Bt 2.10***Flows Buy Tech DELTA CCET KCE+ Tourism better 1Q24 Earnings AOT MINT CENTEL/ Overweight Food Prefer CPF***Warning for Thai 1Q24 GDP weaker than expected and downside risk on 2024 Thai GDP from 2.5% vs GS 2.3%
-
INVX 15/5/2567 ***BJC Neutral/ Cut target price to Bt 27 from Bt 28/Cut Earnings’24 by 7% ( Tax rate 27% ), One-Off items Bt 560 mn from BIGC tax , 2 Qtd SSSg - / 2Q24 Earnings outlook =yoy/+qoq vs Prefer GLOBAL***Cautious Auto Downgrade AH to Neutral from Outperform, cut Earnings m’24 by 31% and tp to Bt 23 from Bt 38 ***PSH Underperform, cut tp to Bt 6.70 from Bt 9.50*** Program Trading Buy CPF TFG RCL*** INVX Overweight Food Commerce Prefer CPF Global ***Fund Flow Buy CPF CPALL CRC OSP/ Energy +PTT PTTEP IVL/ Tech DELTA HANA
-
INVX 14/6/2567: Upgrade CPF to Outperform/ High Conviction list / Raise target price to Bt 26 from CPF Bt 2+ CPALL Bt 24 from previous Bt 22.50) +++ Overweight Food Prefer CPF BTG to TU to GFPT *** Energy - Forex loss hit Earnings of PTTGC Neutral / cut target price to Bt 48 from Bt 50 and BGRIM Neutral/ cut target price to Bt 33 from Bt 40*** Flows from Program trading Buy CBG AAI AAV vs Sell EA ONEE ***Foreign net buy CPALL WHA (GS buy WHA CPALL) MALEE SAPPE IVL ( rotate from PTTGC)*** Today MSCI Srmi Annual Index review announcement / Analyst meeting today 10.00 PSH CPF SCCC /10.30 AAV/13.30 CPALL/ 14.00 Gulf/15.00 AWC Physical Athenee Hotel
-
INVX 13/5/2567: Trading Stocks Prefer CPALL AOT ( Rainy season usually negative sentiment on Conmat Property Commerce Tourism) *** Regional Flows Buy Tech Transport Property vs Sell Commerce Auto Communication/ Research Overweight Food BTG Outperform/raised target price to Bt 26 / IVL Underperform/ cut target price to Bt 30 from Bt 32 / THANI Underperform /cut target price to Bt 2.20 from Bt 2.45 vs Prefer TIDLOR and MTC*** Small Cap Play Prefer AU TNP vs NER Underperform *** GS Buy WHA to Bt 5.70 and CPALL to Bt 72.50***MSCI Semi Annual Index review announcement tmr 14/5/2567 ( mkt talk reduce weighting from Thailand vs HK +11% in 1 month)
-
INVX 10/5/2567: Research GFPT High Conviction list , raise tp to Bt Bt 16 from Bt 15.50 / BLA Outperform, raise target price to Bt 23 from Bt 22 and Cautious Auto, cut tp to Bt 15 from Bt 21***Today Analyst meeting 8.00 SCG/ 13.30 QH MS Team/ 14.30 IVL physical Ocean Tower2***Gulf 1Q24 Fx loss Bt 600 mn and Jackson Hole loss Bt -195, Outperform tp Bt 63/CPAXT Outperform tp Bt 39/LPN Underperform to Bt 2.40, weak 2024 NP and weak GM / SNNP cut target price to Bt 23.40 from Bt 24.80 weak Sales both domestic and overseas / Program Trading Buy BLA vs Sell JMART JAS JMT CHAIYO / Next week : MSCI Semi Annual Index Review ( announcement 14/5/2567/ effective 3/6/2567) FTSE ( Semi Annual Index Review 7/6/2567 Announcement/ 24/6/2567 Effective date)
-
INVX 9/5/2567: Upgrade BLA to Outperform tp Bt 22 /BAM Neutral ,raised target price to Bt 8.40 from Bt 8.00/Cut target price GGC Underperform from Bt 10 to Bt 7.70/ GPSC Neutral, cut target price to Bt 60 from Bt 70 vs Prefer Gulf *** Program Trading Buy PSL RCL SISB SAWAD vs Sell AP ( XD )***Today AMATA XD Bt 0.40/ Analyst meeting 9.30 TU TFM/ 10.30 MTC/ 15.00 LPN SNNP ***
-
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 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.
-
INVX 19/4/2567: GS targeted Gold to $2700/ Today India Election starts / XD PSL Foreign Flow sell Energy both Oil and Utility and Telecom vs Buy Food and Beverage/ Research BBL cut target price to Bt 180 from Bt 185, weaker NIM and higher NPLs/ BDMS Ourperform tp Bt 36, 1Q24 Earnings Bt 4,000 mn +15% yoy, high record / INVX 19/4/2567 : Healthcare sector เรื่องคนไข้ Middle East ค่ะ
ผลกระทบจาก Geopolitical Risk
ใน 1Q24 ตลาด ME น่าจะชะลอ QoQ จาก 2 ปัจจัย
1. Ramadan (Mar 11 - Apr 9)
2. การชะลอลงของคนไข้จากคูเวต เพราะรัฐบาลคูเวตอยู่ในระหว่างการประเมินและคัดเลือก รพ ในต่างประเทศ ที่คนคูเวตจะมารักษา+เบิกได้ เพื่อที่จะควบคุมงบประมาณของประเทศค่ะ
ผลกระทบจาก..
1) ตลาด ME รวม
Revenue contribution from ME
BH = 28%
BCH 9%
BDMS = 4%
CHG 2%
2. เฉพาะคูเวต (อยู่ใน Middle East)…
Rev Contribution จากคูเวต
BH 6%
BCH 4%
BDMS 1%
CHG = small
แนวโน้มงบ 1Q24F
BDMS +YoY, +QoQ เล็กน้อย เพราะตลาดตปทอื่น ยังโตได้ดี
BH + YoY, -QoQ จากการชะลอของ ME
BCH +YoY, -QoQ จากการชะลอของ ME แต่อาจจะบรรเทาได้จาก SC ที่มีจำนวนเพิ่ม
CHG + YoY, -QoQ จากค่าใช้จ่ายของ รพ ใหม่ -
INVX 18/4/2567: Program Trading Sell EA GPSC DELTA KTB KCE / Mkt Talk : Risk of Delayed Digital Wallet from 4Q24 and SET50 deletion / BANK Peak earnings in1 Q and XD / Research SCC Outperform with 1Q24 Earnings preview Bt 2.1 bn,potential stock gain and 2H turnaround play/ Tisco Neutral tp Bt 103, weak loan growth,NIM,fee income vs rising credit cost, DY 8%
- Visa fler