Stocks in Focus on March 12, 2024: EGCO and BCH

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on March 12, 2024.


KGI Securities (KGI) has given an “Outperform” rating on Electricity Generating Public Company Limited (SET: EGCO) with a target price at ฿138.00/share.

KGI stated that it upgraded EGCO to Outperform, from Neutral, with a target price of Bt138.00. The share price has plunged and now offers an enticing valuation at 0.6x P/BV, while KGI saw more hope for stronger progress on the Yunlin project and QPL’s PPA renewal. There is scope for 15-18% upside to 2024F-2025F net profit forecasts due to recent M&As (US’s Compass and Indonesia’s CDI projects). KGI believed 1Q24F net earnings should recover sharply due to the absence of extra items and stronger core operations.


Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on Bangkok Chain Hospital Public Company Limited (SET: BCH) with a target price at ฿23.00/share.

MST expected the profit trend for 1Q24E appears promising. Year-over-year growth has been driven by an increase in the number of social security patients, returning foreign patients, and benefiting from last year’s low profit base.

Full-year 2024 profits are anticipated to exhibit strong growth due to several factors: 1) Positive results from increased patient numbers and treatment costs for social security patients throughout the year, Intensity and higher treatment costs for cash patients, and Expected increase in foreign patients following the country’s reopening.

Bloomberg Consensus projects EPS Growth in 2024 to expand by 30%, the highest in the hospital group, with an expansion of 8%. However, BCH stock price remains negative at -2.7% YTD compared to the group’s 1.8% increase. Therefore, the decreasing price is viewed as an opportunity for accumulation.