Stocks in Focus on October 31, 2023: ADVANC and AMATA

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on October 31, 2023.


KGI Securities (KGI) gave an “Outperform” rating on Advanced Info Service Public Company Limited

ADVANC’s 3Q23 net profit of Bt8.15bn (+35% YoY, +14% QoQ) was 11% above estimates on a gain from sale of Rabbit Line Pay, while its core profit was in-line at Bt7.59bn (+21% YoY, +6% QoQ). The QoQ and YoY rise was backed by a stronger top line (led by mobile and FBB), and cost efficiency. The Outperform call stayed with a 2024 target price of Bt258.00. Momentum should be fueled by an uptrend in earnings. The decent rise in ARPU for mobile and FBB should be backed by a focus on quality clients, market price repair, and upselling high-value plans.


Maybank Securities (Thailand) (MST) gave a “BUY” recommendation on Amata Corporation Public Company Limited (SET: AMATA) with a target price at ฿27.00/share.

MST stated that operating results for 3Q23 are expected to show growth both quarter-over-quarter (QoQ) and year-over-year (YoY), driven by land transfer income, utility income, and profit sharing from investments in associated companies. In 4Q23, profits are anticipated to increase steadily due to land transfers in both Thailand and Vietnam, along with strong utility income.

In the medium to long term, the business is expected to benefit from the relocation of production bases to Thailand and Vietnam, where geopolitical risks are low. Furthermore, in the next phase, MST believed that finalizing the EV 3.5 measure will have a positive impact on AMATA’s share price.