Stocks in Focus on December 4, 2023: GPSC and KBANK

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on December 4, 2023.


Maybank Securities (Thailand) (MST) gave a “BUY” recommendation on Global Power Synergy Public Company Limited (SET: GPSC) with a target price at ฿57.75/share.

KGI stated that GPSC announces the settlement of the dispute in arbitration between GHECO-One, in which GPSC holds 65% of shares, and AVRA, a coal supplying contracting company.

GHECO-One is not responsible for compensating for damages from cancelling coal purchases from the shutdown of operations March-Oct. 2023, helping to reduce the risk of disputes that may have an impact on operating results in the future.

Today, it is expected that there will be a positive sentiment from energy prices, including a decrease in bond yields. As for the increase in electricity prices, MST stated that it still needs to follow. If adjusted up to 4.22 baht/unit, it is positive for profits in 2024, increasing by 23%.


KGI Securities (KGI) gave an “Outperform” rating on Kasikornbank Public Company Limited (SET: KBANK) with a target price at ฿166.00/share.

KGI stated that KBANK’s share price has lagged behind its peers this year due to concerns about its asset quality. However, there are positive signs indicating a more stable level of non- performing loans (NPLs). Taking into account the risks and concerns, KGI believed the bank’s current valuation, at a five-year low, offers an opportunity for an upgrade to Outperform, from Neutral. KGI’s 2024 target price remains unchanged at Bt166 (based on a price-to-book value of 0.7x).