Stocks in Focus on October 9, 2023: KCE and TOP

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on October 9, 2023.


Maybank Securities (MST) gave a “BUY” recommendation on KCE Electronics Public Company Limited (SET: KCE) with a target price at ฿60.00/share.

MST expected that profits during 2H23 will recover from 1H23 due to increased revenue from restocking and a weaker currency. This morning, the baht was at 36.93 baht/USD.

Meanwhile, the cost side has benefited from lower copper prices, and electricity costs have decreased since Sep 2023 due to government measures.

According to Bloomberg Consensus, KCE’s EPS Growth for 24F is expected to expand by 32% YoY, outperforming the group’s growth of 19% YoY.


Liberator Securities (LIB) gave a “BUY” recommendation on Thai Oil Public Company Limited (SET: TOP) with a target price at ฿60.00/share.

LIB stated that the refinery segment continues to move in an uptrend from global tight supply in crude oil. Demand for refined oil should continue to increase, while the unrest in the Middle East boosted global oil and refinery prices.

The current valuation of the stock is not expensive at 0.67x PBV, lower than its 5-year historical average of 0.8x.