Stocks in Focus on November 21, 2023: AOT and HANA

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on November 21, 2023.


KGI Securities (KGI) gave an “Outperform” rating on Airports of Thailand Public Company Limited (SET: AOT) with a target price at ฿86.00/share.

AOT reported a stronger earnings performance in 4Q23 with a net profit of Bt3.43bn (improving considerably from a net loss of Bt1.33bn in 4Q22, +8.8% QoQ). Nonetheless, FY23 earnings were well below our expectation and the market consensus.

Given the positive view that AOT’s earnings would continue to recover, we maintain our earnings forecast at a net profit of Bt27.0bn for FY24F. However, we think that potential earnings downside would be seen from a slower pace in the return of Chinese tourists to Thailand as they are normally the big buyers in duty free space. We maintain a rating of Outperform with a DCF target price at Bt86.00 (WACC 9%; TG 3%).


Finansia Syrus Securities (FSS) gave a “BUY” recommendation on Hana Microelectronics Public Company Limited (SET: HANA) with a target price at ฿60.00/share.

FSS stated that the share price could have a positive sentiment from a rise in US tech stocks, while bond yields and Dollar Index edged lower.

Even though earnings outlook in 4Q23 may be cloudy, the plummet of 30% in the past month reflected that the stocks had priced-in negative factors to a certain degree. FSS maintained a positive for the long-term outlook as the company should benefit from upgrading equipment to support AI technology.