Stocks in Focus on October 17, 2022: NOBLE and WICE

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on October 17, 2022.


Finansia Syrus Securities (FSS) has given a “BUY” recommendation on Noble Development Public Company Limited (SET: NOBLE) with a target price at ฿5.60/share.

FSS stated that the 3Q22 presales dropped (-66% Q-Q) due to the lack of new project launches and the cancellation of Noble State 39 presales to manage the quality of its backlog.

However, it would jump (+36% Y-Y) due to last year’s low base and sales of the projects launched in 1H22. It supported the 9M22 presales to surge by 139% Y-Y. Although some of the debut plans in 4Q22 may delay to 2023, it does not affect its view that the performance has passed its trough in 2Q22 and would turn profitable in 3Q22, the first in four quarters. Also, the profit would accelerate in 4Q22. NOBLE is a turnaround stock. It benefits from the return of foreign buyers. FSS expected a dividend yield of 6.8%.


Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on Wice Logistics Public Company Limited (SET: WICE) with a target price at ฿22.10/share.

MST expected 2H22 earnings to improve in line with the overall shipping volume that remains favourable (sea, air & cross border). This combines with GPM that continues expanding. The valuation is attractive, trading at only 12x PE, lower than industry and historical average of 20x and its own historical PE of 25.2x.