Stocks in Focus on April 4, 2023: GUNKUL and SAPPE

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on April 4, 2023.


Finansia Syrus Securities (FSS) has given a “BUY” recommendation on Gunkul Engineering Public Company Limited (SET: GUNKUL) with a consensus target price from IAA at ฿5.44/share.

FSS stated that the Energy Regulatory Commission (ERC) will announce the bidding result of renewable projects totaling 5.2 GW tomorrow, and GUNKUL is expected to be one of the winners for these projects to acquire at least 500-600 MW in solar power and wind power under the JV company with Gulf Energy Development Pcl (SET: GULF).

The controversial title deed that covers 20 Equity MW of its capacity will require around three years to settle, and GUNKUL will continue to recognize revenue during this period. The company has THB 3.50 adder until 2025. And if GUNKUL lost the case over its title deed, the company can rent the land to continue its operations.


Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on Sappe Public Company Limited (SET: SAPPE) with a target price at ฿66.10/share.

MST expected SAPPE’s 1Q23 earnings at 210 million baht (+60%QoQ, +38%YoY), another record high even if it is not in SAPPE’s seasonal peak. The increase would be due to higher consumption as well as gross profit margin. Meanwhile, PET costs should decrease by 30% YoY.