Stocks in Focus on February 1, 2024: GULF and WHA

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on February 1, 2024.


KGI Securities (KGI) has given an “Outperform” rating on Gulf Energy Development Public Company Limited (SET: GULF) with a target price at ฿55.00/share.

KGI expected GULF to mark a a 4Q23F core profit of Bt4.1bn (-2% QoQ, +36% YoY). The rise YoY would be due to stronger SPPs, and contribution from IPPs, while the dip QoQ should derive from higher operating costs and weaker SPPs.

The Outperform call stands with a target price of Bt55.00. KGI raised its 2024-25F core profit forecasts by 0.5-0.8% to reflect higher Ft rate and lower gas prices. GULF is likely to offer smoother and prominent growth the next five years, leading to superb ROE and ROA.


Liberator Securities (LIB) has given a “BUY” recommendation on WHA Corporation Public Company Limited (SET: WHA) with a target price at ฿5.80/share.

LIB had a positive view on an escalation of investment in Thailand in 2024, following the relocation of global capital funds. The company aimed for 2,275 rai in sales this year, which is 30% higher than the target the company made at the beginning of last year. The company also expected to revise up its sales target in the future as well following growth in EV business in Thailand.