Stocks in Focus on August 15, 2022: TOP and TFG

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on August 15, 2022.


Morgan Stanley (MS) has upgraded Thai Oil Public Company Limited (SET: TOP) to “Overweight” with a target price at ฿65.00/share.

MS stated that TOP has the highest exposure to middle distillates, among Asian refining peers and should be a key beneficiary of the upcycle in refining margins over 2023-24. The firm saw balance sheet challenges receding as capex peaks, while significantly higher cash flows and proposed recapitalization in 2H22 drive rapid de-gearing.

Furthermore, Morgan Stanley thought that the stock is pricing in the refining upcycle but not upside risks from improving domestic demand and balance sheet repair.


Finansia Syrus Securities (FSS) has given a “BUY” recommendation on Thaifoods Group Public Company Limited (SET: TFG) with a target price at ฿7.50/share.

FSS stated that 3Q22 earnings momentum remained positive as the company recently announced a record high of net profit in 2Q22, largely beat expectations from higher pork and chicken prices as well as its expansion of Thaifood Fresh Mart.

FSS noted that it will revise 2022 earnings up with a positive outlook on its business stability in retail growth while its current price is trading at a low PER of around 10x.