Stocks in Focus on April 4, 2024: TU and AAV

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


KGI Securities (KGI) has given an “Outperform” rating on Thai Union Public Company Limited (SET: KGI) with a target price at ฿19.30/share.

KGI stated that TU is expected to report a 1Q24F normalized profit of Bt1.07bn (+5% YoY, -14% QoQ). The growth YoY would be backed by increasing sales revenue and improving GPM, especially from the pet care segment. The decline in QoQ would be due to lower sales from seasonal effects and a decline in GPM. KGI maintained a rating of Outperform on TU with a 2024 target price of Bt19.30, as we anticipate positive earnings momentum QoQ in the coming quarters backed by improving GPM for the ambient seafood segment.


Finansia Syrus Securities (FSS) has given a “BUY” recommendation on Asia Aviation Public Company Limited (SET: AAV) with a target price at ฿3.10/share.

FSS expected strong AAV’s normalized profit in 1Q24 at 1 billion baht, a significant growth for QoQ and YoY. This would be due to a boost in 96% of load factor, compared to 93% in 4Q23 and also an increase in fare price by 1-2%.

Still, baht depreciation could lead to an FX loss by 2-2.4 billion baht, which could lead to a net loss of 1.1-1.5 billion baht.

The analyst noted that the Thai-China route saw a 20-30% increase in passengers in February to March after the free visa scheme. FSS expected AAV to have a direct benefit due to an increase in flights, while increasing normalized profit in 2024 to 36% at 2 billion baht with an upside from air fare that could be higher than anticipated.