Stocks in Focus on June 6, 2024: HMPRO and TFG

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


Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on Home Product Center Public Company Limited (SET: HMPRO) with a target price at ฿15.00/share.

MST stated that the stock price dropped by 20% YTD due to concerns over 1Q24 earnings, which were recovering very slowly. However, in 2H24, MST believes SSSG will recover better than in 1H23 due to last year’s low base and the benefit from the accelerated disbursement of the government budget.

Meanwhile, HMPRO is trading at 18x, which is lower than the 5-year average by -2S.D. and also below its peers. MST noted that HMPRO’s 2024 dividend yield is expected at 4.7%, the highest in the retail group under its coverage.

In the short term, MST expected HMPRO to be one of the beneficiaries of the Euro 2024 football trend, which will be broadcast live on Free TV, boosting demand for more TVs and electrical equipment.


KGI Securities (KGI) has given an “Outperform” rating on Thaifoods Group Public Company Limited (SET: TFG) with a target price at ฿4.84/share.

We are optimistic about TFG’s earnings momentum and expect net profits to grow both YoY and QoQ in 2Q24F-3Q24F. The growth drivers should be i) increasing swine prices both in Thailand and Vietnam backed by reduced supplies after the ASF outbreak ii) decreasing feed cost, and iii) solid performance from retail stores and expansion plan. We reiterate our net profit forecasts of Bt1.99bn in 2024F and Bt2.21bn in 2025F. Consequently, we upgrade TFG to Outperform, from Neutral, with a target price of Bt4.84, from Bt3.40.