Stocks in Focus on January 4, 2023: SPA and KBANK

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


Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on Siam Wellness Group Public Company Limited (SET: SPA) with a target price at ฿13.20/share.

MST stated that the influx of foreign tourists during the high season, coupled with improved profit efficiency from effective cost control, is bolstering the U-Rate. This positive trend is expected to lead to the highest quarterly profit level in 4Q23E, and this favorable trajectory is anticipated to continue at least until 1Q24E.

MST noted that an intriguing aspect is highlighted by the Bloomberg Consensus 23E profit forecast of 256 million baht. In 9M23, the company had already recorded a combined profit of 192 million baht, which accounts for 75% of the entire year. Assuming that 4Q23E profits will reach a new high, there is an opportunity for an upgrade earnings cycle, potentially acting as a driver factor for stock prices in the upcoming period.


Liberator Securities (LIB) has given a “BUY” recommendation on Kasikornbank Public Company Limited (SET: KBANK) with a target price at ฿155.00/share.

LIB expected KBANK’s 2024 earnings to increase from lower provision and higher NIM that continued to climb. However, 4Q23 will see a decline in QoQ from higher expenses due to seasonality.

LIB noted that the current valuation is not expensive, while banking stocks offer good dividend yield, which raised its attractiveness for accumulation.