Stocks in Focus on December 13, 2021: RT and CPN

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on December 13, 2021.


KTBST Securities (KTBST) has given a “BUY” recommendation on Right Tunnelling Public Company Limited (SET: RT) with a target price at ฿2.50/share.

KBTST upgraded its recommendation on RT from “Hold” to “Buy” and revised the target price up from Bt2.10 to Bt2.50 per share, based on 2022E PER 24x, which is close to the average of its peers to reflect strong backlog and potential projects in the future.

KTBST maintained RT’s estimated 2021 net profit at 69 million baht, representing a decrease by 71% YoY. However, net profit in 2022 is expected to increase 65% YoY to 114 million baht in an assumption of new projects worth 4 billion baht for the year. Every 500 million baht of new contract signing will reflect an upside to RT’s profit of around 8%.

In addition, KTBST stated that the share price was stable and in line with SET Index in the past month, seeing positive outlook for RT after bottomed out while having strong backlog and catalyst from the Denchai-Chiang Rai-Chiang Khong project that should be crystalized in 1-2Q22.


Maybank Securities (Thailand) (MBKET) has given a “BUY” recommendation on Central Pattana Public Company Limited (SET: CPN) with a target price at ฿60.00/share.

MBKET expected CPN’s 4Q21 profit to recover in accordance with the reopening and the seasonality will help increase traffic for the company. Meanwhile, the discount given to concessionaires is expected to be reduced to 20-30%, which will support CPN’s revenue from the renting fees segment, coupled with the opening of two new department stores (Si Racha and Ayutthaya) and the profit recognition from SF.