Stocks in Focus on November 23, 2022: BBL and CK

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on November 22, 2022.


FInansia Syrus Securities (FSS) has given a “BUY” recommendation on Bangkok Bank Public Company Limited (SET: BBL) with a target price at ฿170.00/share.

FSS expected the 4Q22 profit growth to accelerate Q-Q and Y-Y. Although loans should be flat Q-Q due to increased repayment, the earnings should see support from wider NIM and the lower provisioning outlook.

FSS anticipated the 2022-2023 profit to surge by 15% Y-Y and 12% Y-Y, in line with the recovering economic outlook. Also, BBL should be one of the banks that benefit most from the interest rate uptrend due to its high business loan exposure. BBL has an undemanding valuation. It trades at a PB of just 0.5x, lower than its pre-covid of roughly 0.8x. BBL has support at Bt142//140 and resistance at Bt146.5-147//149.


Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on CH. Karnchang Public Company Limited (SET: CK) with a target price at ฿28.00/share.

MST expected normalised profit in 2022 at THB1.104b, vs only THB100m profit in 2021. Its backlog is forecast to enter the New S-Curve driven by the Luang Prabang Hydroelectric Power Project worth THB80-90b and the MRT, Western Orange Line, worth THB1.27b, that will support future growth.