Stocks in Focus on March 6, 2024: BEM and BDMS

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on March 6, 2024.


Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on Bangkok Expressway and Metro Public Company Limited (SET: BEM) with a target price at ฿8.70/share.

MST stated that BEM targets a 20% revenue growth for this year, primarily fueled by the increased number of electric train passengers. This growth is bolstered by two main factors: 1) An expansion in the user base and a fare price hike of 1 baht, effective July 3rd this year. 2) Anticipated acceleration in expressway usage, expected to reach 91% of pre- COVID-19 levels, partly driven by the tourism sector’s recovery. Bloomberg Consensus forecasts a 13% YoY normalized profit growth for the year.
The medium to long-term outlook appears promising due to potential government sector projects’ acquisition opportunities, including the Orange Line project, Southern Purple Line, and the double-deck expressway. These projects are poised to augment the consensus forecast positively.


Finansia Syrus Securities (FSS) has given a “BUY” recommendation on Bangkok Dusit Medical Services Public Company Limited (SET: BDMS) with a target price at ฿35.00/share.

FSS expected growth momentum of net profit to continue in 1Q24, while revenue should hit a record high, which would result in a sales growth of around 10-12% in 2024, boosted by strong income from foreign patients.

The company expected 10% CAGR in 2024-26 revenue from additional bed capacity from 8,660 in 2023 to 9,300 in 2026. With positive outlook, FSS upgraded BDMS’ normalized profit growth to 14% and 9% in 2024-25, respectively.