Stocks in Focus on March 30, 2022: CBG and BEM

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on March 30, 2022.


Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on Carabao Group Public Company Limited (SET: CBG) with a target price at ฿115.00/share.

MST stated that 1Q22 earnings outlook should further improve QoQ driven by strong recovery in exports to Myanmar, China and Vietnam. This coupled with domestic economic recovery. It is likely to increase selling prices while aluminum costs begin to decline. This will help boost gross profit margin to rise. 


DBS Vickers Securities (DBSVS) has given a “BUY” recommendation on Bangkok Expressway and Metro Public Company Limited (SET: BEM) with a target price at ฿10.00/share.

DBSVS stated that BEM’s 1Q22F outlook should gradually recover despite a slowdown on its expressway and rapid rail system businesses in January 2022 due to the omicron outbreak, but utilization rate in February and March showed increasing figures. 2022 revenue is expected to grow 26% as expressway utilization rate recovered to 80% of its pre-Covid figure, while the rapid rail system recovered to 50%. DBSVS believed the figure will increase after Covid-19 reaches endemic in 2Q-3Q22. 

Net profit in 2022-23 is expected to grow 119% and 58%, respectively, boosted by more rail system management projects such as the orange line that connects to the blue line, as well as the Motorway M7, M8, M9 and the double-deck tollway.