Stocks in Focus on December 25, 2023: ITC and ICHI

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on December 25, 2023.


Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on i-Tail Corporation Public Company Limited (SET: ITC) with a target price at ฿22.00/share.

MST stated that the profit direction for 4Q23 is expected to continue its acceleration from 3Q23 as customer orders rebound following destocking. Additionally, the decrease in tuna costs is likely to contribute to supporting profit performance.

When reporting export sales in November, a positive sentiment on the stock price today may be observed if products in the animal feed export category show accelerated growth.

Additionally, MST noted that ITC is among the stocks that joined the SET100 in 1H24, and it is believed that the influx of funds will support it, serving as a factor to help mitigate the downside of the stock price.


Finansia Syrus Securities (FSS) has given a “BUY” recommendation on Ichitan Group Public Company Limited (SET: ICHI) with a target price at ฿19.00/share.

FSS expected ICHI’s 4Q23 at 258 million baht (-21% QoQ, +34% YoY). The decrease would be due to a low season, but revenue should be stable at around 2,000 million, which makes its year-on-year growth higher from the ready-to-drink green tea market.

2023 net profit should reach 1.06 billion baht, representing an increase by 66%. The momentum should carry into 1H24, especially during the summer, which is ICHI’s peak season.

The management expected 10% revenue growth from green-tea market, new products and recovery in exports. Outsource OEM production is expected to increase 5-7% in 2024. Meanwhile, the company also expected to expand its glass bottle production by 13% in 1Q25.

FSS forecast net profit in 2024-25 to increase 3% and 5%, respectively. ICHI has strong financial status with 5-6% dividend yield.