Stocks in Focus on October 21, 2022: TU and BEM

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on October 21, 2022.


Finansia Syrus Securities (FSS) has given a “BUY” recommendation on Thai Union Group Public Company Limited (SET: TU) with a target price at ฿24.50/share.

FSS expected the 3Q22 net profit to hit a five-quarter peak. It would jump (+32% Q-Q, +11% Y-Y) due to the export industry’s high season and the Baht weakness. It should grow in all units (including Ambient, Frozen, and Pet Food & Value Added). Also, the selling price hikes (particularly in Europe) would help offset high energy prices. Although The Red Lobster’s loss would extend, the extra expenses booked in the previous quarter would disappear.

Although the 4Q22 profit would weaken, in line with seasonality, the full-year profit may beat the current estimate by 15%. Also, the 2023 outlook remains healthy. TU has a catalyst from going XB on October 31 for the pre-emptive right to ITC’s IPO. TU has support at Bt18 and resistance at Bt19.30//19.70-20.


Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on Bangkok Expressway and Metro Public Company Limited (SET: BEM) with a target price at ฿11.62/share.

MST expected 3Q22 net profit to come in at 804 million baht (+26% QoQ and +641% YoY), the highest in the past eight quarters, boosted by higher traffic on expressway and metro. There is also an upside on the Orange Line and the operation of Purple Line as well as a double deck on the tollway.