Stocks in Focus on November 28, 2023: SCB and TIDLOR

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on November 28, 2023.


Maybank Securities (Thailand) (MST) gave a “BUY” recommendation on SCB X Public Company Limited (SET: SCB) with a target price at ฿130.00/share.

The business’s forthcoming expansion into GEN 2 loans, characterized by high-profit margins, is poised to enhance long- term Return on Equity (ROE). Meanwhile, the credit expansion aligns with an improving economic recovery, and the Net Interest Margin (NIM) trend is expected to show improvement in 4Q23/1Q24 compared to 3Q23.

With a Price-to-Book Value (PBV) of 0.69x, lower than the 10-year historical average and more than -1 Standard Deviation, the bank appears undervalued. In terms of dividends, a high payout rate of 6.5% and 7.0% per year is anticipated for 2023/24, surpassing the rates of the commercial banks group. The average dividend for 2024/25 is projected to be 5.5% and 6%, respectively.


Finansia Syrus Securities (FSS) gave a “BUY” recommendation on Ngern Tid Lor Public Company Limited (SET: TIDLOR) with a target price at ฿28.00/share.

FSS expected operating performance for TIDLOR should recover in the fourth quarter while asset quality will also recover after bottoming out in the second quarter. FSS noted that even though the overall outlook of interest rates remained high, FSS still liked TIDLOR for its high coverage ratio, which helped limit risks to high provisions and downside to the income forecast of -7% in 2023 and +21% in 2024.