Stocks in Focus on April 11, 2024: AEONTS and ITC

Kaohoon International has selected stocks with a high-growth potential, based on analysts’ recommendation, for investors to consider on April 11, 2024.


KGI Securities (KGI) has given an “Outperform” rating on Aeon Thana Sinsap (Thailand) Public Company Limited (SET: AEONTS) with a target price at ฿197.50/share.

KGI revised up its earnings forecast for AEONTS to Bt3.8bn (+17% YoY) in 2024F and Bt4.1bn (+7% YoY) in 2025F, mainly from lowering credit costs. Moreover, KGI also raised its 2024 target price to Bt197.50, from Bt165.00, and upgraded the counter to Outperform, from Neutral, on easing credit costs, well-controlled asset quality and recovering loan growth.


Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on i-Tail Corporation Public Company Limited (SET: ITC) with a target price at ฿22.00/share.

The 1Q24 results are expected to reach their lowest point of the year due to seasonal effects. However, there are positive developments in terms of sales volume (end of destocking) and new orders that are anticipated to increase, especially supported by premium products. This aligns with the growth in pet food exports in February, expanding for the 5th consecutive month.

Additionally, there is a positive factor in product margins due to lower tuna cost prices, along with the benefit from the baht depreciating by 5.8% in 1Q24. These factors suggest that profits may present a positive surprise.

Meanwhile, the sales trend in 2Q24 continues to expand both YoY and QoQ, driven by customer orders and new product offerings. This growth is offset by increased depreciation recognition since 2Q24, amounting to 62 million baht per quarter.