Stocks in Focus on November 24, 2023: BBIK and ADVANC

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on November 24, 2023.


Maybank Securities (Thailand) (MST) gave a “BUY” recommendation on Bluebik Group Public Company Limited (SET: BBIK) with a target price at ฿123.00/share.

MST stated that BBIK’s project wins resumed in Oct’23, leading us to expect backlog increases in 4Q23E and 1Q24E. MST forecast strong core profit growth in 4Q23E (+107% YoY, +4% QoQ) and FY24E core EPS growth of 38% YoY on the back of more project wins, productivity boost and lower tax rates.

With FY23E P/E of 37x and FY23-25E core EPS CAGR of 39%, BBIK has a PEG ratio of 0.9x, the lowest among technology service providers in Thailand. Four tech plays in Thailand have an average PEG ratio of 2.3x.


Finansia Syrus Securities (FSS) gave a “BUY” recommendation on Advanced Info Service Public Company Limited (SET: ADVANC) with a consensus target price at ฿258.21/share.

FSS expected ADVANC to carry its strong momentum into 4Q23 from high season, which would boost its revenue while also recognizing a full-quarter income from sales of iPhone15 and lower electricity bills.

FSS also had a positive view in the long run as the current competitiveness in the market could yield higher profitability for mobile and FBB businesses after the TRUE-DTAC merger and ADVANC’s acquisition in 3BB. Net profit in 2023-24 is expected at 29 billion baht (+11%) and 30.9 billion baht (+7%), respectively.