Stocks in Focus on May 16, 2023: AAV and SCGP

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on May 16, 2023.


KGI Securities (KGI) has given an “Outperform” rating on Asia Aviation Public Company Limited (SET: AAV) with a target price at ฿3.70/share.

AAV reported a 1Q23 net profit of Bt359mn (vs. a net loss of Bt2.37bn in 1Q22 and a net profit of Bt3.11bn in 4Q22). The result was 47.1% below KGI’s estimate and 26.4% below the market consensus. Excluding FX gain on lease liability of Bt528.5mn, normalized loss was Bt169mn (vs. normalized losses of Bt2.37bn in 1Q22 and Bt2.17bn in 4Q22).


Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on SCG Packaging Public Company Limited (SET: SCGP) with a target price at ฿49.00/share.

MST forecast that earnings for 2Q23 and 2H23 will continue to recover as economic activity in the ASEAN region improves in line with the recovery of domestic consumption. MST anticipated a slight improvement in profit margins, as the cost of raw materials, such as recycled paper, has fallen back to normal levels and is expected to remain stable. Furthermore, MST expected energy prices and freight charges to decrease compared to the previous year.