Stocks in Focus on September 1, 2023: SCB and BAFS

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on September 1, 2023.


Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on SCB X Public Company Limited (SET: SCB) with a target price at ฿130.00/share.

MST stated that the profit trend is being bolstered by the rise in interest income, which corresponds to the upward trend in interest rates and maintains stability at a high level. Robust loan growth has counterbalanced the deceleration in non-interest income. Notably, the stock price presents an intriguing valuation, currently trading at a P/BV of 0.85x.


KGI Securities (KGI) has given an “Outperform” rating on Bangkok Aviation Fuel Services Public Company Limited (SET: BAFS) with a target price at ฿39.50/share.

KGI expected BAFS to report 3Q23F earnings of Bt40mn (recovering YoY from a net loss of Bt43mn in 3Q22, +277% QoQ). The better performance would come mainly from an anticipated increase in aviation refueling volume to 1,113mn liters for the quarter, up 40% YoY and 7% QoQ.

KGI rolled over and upgraded its 1H24F target price to Bt39.50, from Bt36.50, based on SoTP methodology, and also reiterated a rating of Outperform on BAFS thanks to an upward trend in the number of foreign travelers and good news that the new government plans to ease visa rules for Chinese and Indian travelers to boost Thailand’s tourism revenue.