Stocks in Focus on October 30, 2023: ORN and RBF

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on October 30, 2023.


Finansia Syrus Securities (FSS) gave a “BUY” recommendation on Ornsirin Holding Public Company Limited (SET: ORN) with a target price at ฿1.88/share.

FSS stated that ORN is a leading property developer in Chiang Mai for more than 17 years, which covers both horizontal and vertical projects. As of 1Q23, the company had developed more than 20 projects with a total value of 16.5 billion baht. Two of the projects are on sale, while the others are in the developing process. FSS expected 2023 net profit to slow down, but will ramp up in 2024-25, following the development plan of its projects.


KGI Securities (KGI) have an “Outperform” rating on R&B Food Supply Public Company Limited (SET: RBF) with a target price at ฿12.80/share.

RBF is expected to report a 3Q23F net profit of Bt175mn (+59% YoY, +14% QoQ). Revenue should increase 13% YoY and 6% QoQ backed by overseas sales growth in the flavoring and food coloring segment and the food coating segment. GPM is expected to improve to 38.1% backed by a lower wheat price and product mix.

KGI expected RBF’s positive performance to continue in 4Q23F as export demand remains strong and the cost of wheat flour should decline further. RBF is one of KGI’s top picks in the food and beverage sector thanks to its positive earnings momentum in 2H23F-2024F.