Stocks in Focus on November 7, 2023: TU and TIDLOR

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on November 7, 2023.


Maybank Securities (Thailand) (MST) gave a “BUY” recommendation on Thai Union Public Company Limited (SET: TU) with a target price at ฿14.30/share.

MST stated that in 3Q23, the net profit decreased by 52% YoY but expanded by 17% QoQ, which exceeded MST’s expectations by 14%. This improvement was driven by a recovery in pet food sales after a period of stock-clearance from customers and an increase in gross profit due to the decrease in tuna prices.

Looking ahead to 4Q23, it is anticipated that profits will likely recover QoQ due to sustained orders and ongoing adjustments in tuna costs. The valuation of the company is considered to be attractive, trading at a Price-to-Earnings Ratio (PER) of 10.4x, which is lower than the 5-year average by -0.5 standard deviations. Additionally, the company offers a Dividend Yield of 5.7%, which serves as a factor that helps limit potential downside.


Maybank Securities (Thailand) (MST) gave a “BUY” recommendation on Ngern Tid Lor Public Company Limited (SET: TIDLOR) with a target price at ฿26.00/share.

In 3Q23, net profit grew by 12% YoY and 9% QoQ, as anticipated, primarily driven by the expansion of interest income following improvements in loan portfolios and Net Interest Margin (NIM). Furthermore, non-interest income, particularly insurance fee income, exceeded MST’s expectations and contributed to the overall growth.

The company maintains strong asset quality, with Non-Performing Loans (NPLs) showing a slight decrease of 2 basis points to 1.54% compared to the previous quarter. The Coverage Ratio remains high at 264%.

MST anticipated that the company’s share price will respond positively to its strong performance. Moreover, in the short term, there is support from interest rates that are approaching their peak.