Stocks in Focus on June 9, 2022: CPF and BBL

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on June 9, 2022.


KGI Securities has given an “Outperform” rating on Charoen Pokphand Foods Public Company Limited (SET: CPF) with a target price at ฿30.50/share.

KGI Securities stated that it has a positive view on CPF after the conference with the company’s management yesterday. After weak earnings in 1Q22 from a low overseas swine price, KGI Securities expects a recovery in 2Q22F-3Q22F as swine prices in China and Vietnam picked up. Meanwhile, operations in Thailand are expected to remain strong due to high domestic meat prices. Moreover, swine price has a chance to increase further as supply should take at least a year to recover from the impact of ASF.

The securities company stated that CPF is focusing on its long-term growth strategy of expanding markets and developing new value-added products.

KGI Securities maintains its net profit forecasts of Bt10.8bn (-17% YoY) in 2022F and Bt16.4bn (+51% YoY) in 2023F.


Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on Bangkok Bank Public Company Limited (SET: BBL) with a target price at ฿165.00/share.

MST stated that the Bank of Thailand (BoT) yesterday kept its benchmark interest rate steady in a split decision, as it flagged mounting inflation risks, and signalled its next move may be an increase. The BoT’s Monetary Policy Committee (MPC) voted 4-3 to keep the benchmark rate at a record low 0.5%. This gives positive psychology to banking stocks with BBL gaining most benefits from rate hike.