Stocks in Focus on October 18, 2023: BH and SPA

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on October 18, 2023.


Finansia Syrus Securities (FSS) gave a “BUY” recommendation on Bumrungrad Hospital Public Company Limited (SET: BH) with a target price at ฿300.00/share.

FSS stated that 3Q23 earnings of BH could reach a record high of 2,000 million baht, representing a strong growth in QoQ and YoY. The increase would be due to an acceleration of international patients, while also benefiting from the spreading disease.

If earnings come in as expected, it could lift an upside for the current estimate of 37% and 5% growth in 2023-24, which would lead to a re-rate.

FSS noted that BH is also a stock that is resilient to economic and political uncertainties.


Maybank Securities (Thailand) (MST) gave a “BUY” recommendation on Siam Wellness Group Public Company Limited (SET: SPA) with a target price at ฿13.20/share.

MST stated that the influx of foreign tourists in the high season supports the utilization rate to a satisfactory level, combined with improved profit efficiency through cost control measures. This results in a remarkable profit recovery trend in 2H23 compared to 1H23.

Regarding concerns about Chinese tourists’ confidence following the mall shooting incident, MST believed much of this has already been priced in, as reflected in the 6.2% decrease compared to the SET Index’s 1% decline during the same period.