Stocks in Focus on September 11, 2023: CRC and JMT

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on September 11, 2023.


Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on Central Retail Corporation Public Company Limited (SET: CRC) with a target price at ฿45.00/share.

Vietnam’s operations, accounting for over 20% of total revenue, are expected to reach their lowest point by the end of 3Q23 but are poised to support Same-Store Sales Growth (SSSG) from 4Q23. This optimism is driven by the Vietnam manufacturing sector PMI, which rebounded in August to 50.5 after six consecutive months below 50. Additionally, domestic textile and footwear orders surged by 25% in the latest month compared to July 2023, as reported by VTV news agency.

CRC is preparing to host a press conference to launch its “Wholesale business” on September 14, 2023. This event is expected to boost market sentiment and potentially result in an upward revision of the medium to long-term forecast.


KGI Securities (KGI) has reiterated an “Outperform” rating on JMT Network Services Public Company Limited (SET: JMT) with a target price at ฿600/share.

KGI stated that JMT has posted solid cash collection for two straight quarters from the portfolio managed under the company and under JV in JKAMC. A huge asset injection into the portfolio will enable JMT to grow cash collection at a faster pace in 2H23.

KGI noted that it rolled over JMT’s fair value based on 2024F earnings and de-rate PE multiple to 30x to add a larger margin of safety, resulting in a fair price of THB60.00, which is unchanged from the previous target.