Stocks in Focus on April 5, 2024: PTTEP and AP

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on April 5, 2024.


Kiatnakin Phatra Securities (KKPS) has given a “BUY” recommendation on PTT Exploration and Production Public Company Limited (SET: PTTEP) with a target price at ฿195.40/share.

KKPS stated that BofA’s commodity research team has lifted its 2024 Brent and WTI oil price forecasts to US$86/bbl and $81/bbl with prices peaking at around $95/bbl in Summer. The analyst expected PTTEP to record solid core results and strong production volume in 1Q24. Meanwhile, total unit cost should remain low at $28.6/bbl.


KGI Securities (KGI) has given an “Outperform” recommendation on AP (Thailand) Public Company Limited (SET: AP) with a target price at ฿13.00/share.

KGI stated that AP’s presales and new launches slipped both YoY and QoQ as there were few new launches and high rejection and cancellation rates. Given AP’s soft start, the company’s 1Q24 earnings are likely to be unexciting both YoY and QoQ. KGI looked forward to better growth momentum starting from 2Q24F given the massive number of new launches and transfers from three newly completed condominiums worth a combined value of Bt11.5bn (avg. 58% sold).

In addition, KGI maintained a rating of Outperform with a target price of Bt13.00. AP announced a final DPS of Bt0.70 (XD May 8), equivalent to a dividend yield of 6.7%