Stocks in Focus on October 16, 2023: BCP and BBL

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


Maybank Securities (Thailand) (MST) gave a “BUY” recommendation on Bangchak Corporation Public Company Limited (SET: BCP) with a target price at ฿42.00/share.

MST stated that in 3Q23, a 13% YoY and 228% QoQ growth is expected from BCP, with a normalised profit of 3.07 billion baht. This growth is attributed to higher refining margins, increased crude oil prices, and a positive impact on the E&P business. There’s also potential upside from the revaluation of ESSO’s assets. The current share price, at a P/BV of 0.8 times, may be even lower at approximately 0.6 times when considering ESSO’s asset valuation.

Short-term positive catalysts are driven by stable high crude oil prices due to the ongoing war.


Maybank Securities (Thailand) (MST) gave a “BUY” recommendation on Bangkok Bank Public Company Limited (SET: BBL) with a target price at ฿174.00/share.

MST anticipated that 3Q23 net profit will reach 10.5 billion baht, expanding by 38% YoY, outperforming the group’s 9% YoY growth. This robust performance is supported by interest income growth due to NIM improvement in line with the upward interest trend, while credit costs are stabilizing.

Asset quality remains strong, with the NPL ratio expected to remain stable at 3.48%, lower than the group’s 3.68%. The Coverage Ratio is at 291%, the highest among commercial banks.