Stocks in Focus on March 4, 2024: PTTEP and SABINA

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on March 4, 2024.


Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on PTT Exploration and Production Public Company Limited (SET: PTTEP) with a target price at ฿194.00/share.

The stock price is expected to be influenced by the price of Brent  crude oil, which surged by 1.6%. This rise is supported by Reuters reporting that the OPEC+ group will expand production control limits by 2.2 mbpd in 2Q24, with clarity expected in early March.

Regarding fundamentals, MST anticipated PTTEP to demonstrate robust production growth of 11.5% CAGR in 2023-24, surpassing global oil and gas production growth. This increase is attributed to heightened output from renewed contracts in the Gulf of Thailand, particularly from the Erawan gas field.

The stock is currently trading at a 2024E PER of 8x (compared to an average of 10.3x), accompanied by a high dividend yield of 6.6%.


Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on SABINA Public Company Limited (SET: SABINA) with a target price at ฿32.50/share.

MST forecast FY24 earnings of SABINA to hit a record high, underpinned by increasing domestic consumption, rising tourist arrivals, new product launches and a higher gross margin.

Domestic sales momentum remains positive in 1Q24E on the back of increasing tourist arrivals and new product launch, namely the lingerie and outerwear collaboration with the Janesuda brand, owned by the namesake Thai actress Janesuda Parnto.

ROE is likely to reach 27.7% in FY24E (from 24.8% in FY23), while dividend yield should remain healthy at around 6%. Sabina is trading at just 16.7x FY24E P/E, -1 SD below its mean of 21.4x.