Stocks in Focus on October 25, 2023: GLOBAL and PLANB

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on October 25, 2023.


Maybank Securities (Thailand) (MST) gave a “BUY” recommendation on Siam Global House Public Company Limited (SET: GLOBAL) with a target price at  ฿17.70/share.

MST upgraded GLOBAL to BUY from HOLD due to undemanding valuations. The stock is trading at 27.1x FY23E P/E and 22.9x for FY24E, below its 5-year average of 28.3x. MST revised down earnings to reflect the weak 2H23E performance but we expect earnings to recover by 19% YoY in FY24E. SSSG is likely to recover due to increasing rice prices and normalising steel prices while store expansion should enhance sales growth.

MST rolled forward its valuation base to FY24E and raised DCF-based TP to THB17.70 (7.6% WACC and 2% growth).


Maybank Securities (Thailand) (MST) gave a “BUY” recommendation on Plan B Media Public Company Limited (SET: PLANB) with a target price at  ฿9.00/share.

MST stated that in the past month, the stock price has declined by over 7%, tracking the overall market trend. Currently, the price remains in the lower range. MST anticipated that there will be some buying activity as the brokerage firm placed more emphasis on speculation regarding 3Q23 earnings results.

The 3Q23 operating results are expected to show growth in both QoQ and YoY. This growth is supported by the out-of-home media business, where media utilization typically accelerates in the second half of the year. Additionally, the Engagement Marketing business is seeing an uptick, driven by income from the boxing business and sports rights management.