Stocks in Focus on January 9, 2023: AP and HANA

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on January 9, 2023.


KGI Securities (KGI) has given an “Outperform” recommendation on AP (Thailand) Public Company Limited (SET: ฿14.00/share)

KGI stated that AP’s presales/new launches hit record high in 4Q23 at Bt16bn/Bt36bn, respectively. Full-year presales increased 2% YoY to Bt51.4bn while new launches rose almost 20%. Although landed property presales softened, condominium presales surged. However, despite the impressive presales, 4Q23F earnings may slip QoQ but still grow YoY from a low base in 4Q22.

KGI estimated 2023F-24F earnings to grow 7-9% pa. The brokerage company maintained a rating of Outperform with a target price of Bt14.00. Note that AP has ranked number one in presales and new launches for four consecutive years since 2020.


Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on Hana Microelectronics Public Company Limited (SET: HANA) with a target price at ฿55.00/share.

MST stated that the World Semiconductor Trade Statistics (WSTS) has adjusted its industry sales forecasts. This year’s semiconductor sales, particularly in the memory sector, are on the rise. Sales in the U.S. are expected to grow by 22.3% YoY, while Asia is set to expand by 12% YoY. These figures reflect a new round of inventory accumulation, supported by purchasing power in the End Market.

Meanwhile, the SIC business is anticipated to experience a reduced loss this year. The company has increased production since the middle of 4Q23. These factors are expected to contribute to supporting the direction of earnings in 2024E with a return to expansion.