Stocks in Focus on July 7, 2022: ASK and MAKRO

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on July 7, 2022.

Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on Asia Sermkij Leasing Public Company Limited (SET: ASK) with a target price at ฿48.00/share.

MST expected 2Q22E earnings to grow 35% YoY and 3% QoQ to THB362 million. Loans should grow 26% YoY and 6% QoQ to THB63 billion as ASK offered THB9 billion new loan, up 15% YoY in 2Q22E. ASK is trading at 10.5x PER and 1.6x PBV with 4.8% dividend yield. MST stated that it liked ASK for decent earnings growth, high dividend yield and cheap valuation.


Finansia Syrus Securities (FSS) has given a “BUY” recommendation on Siam Makro Public Company Limited (SET: MAKRO) with a consensus target price at ฿44.56/share.

FSS expected earnings in 2Q22 to recover YoY and possibly QoQ, a rare occasion as seasonal profits in 2Q are normally weaker than 1Q. SSSG was expected to expand 5% YoY in 2Q22, same as Lotus that is recovering following the reopening, tourism and product price increasing.

FSS expected 2H22 earnings to improve from 1H with decreasing expenses from the restructuring of MAKRO-Lutis’s while starting to recognize growth from the synergy. The consensus estimated MAKRO’s earnings in 2022-23 to grow 43% each year from full-year synergy with Lotus’s. The share price is trading at 24x 2023PER.

MAKRO has support level at THB34 and resistance level at THB36-36.50//37.