Stocks in Focus on November 3, 2021: BBL and NOBLE

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on November 3, 2021.


Maybank Kim Eng Securities (Thailand) (MBKET) has given a “BUY” recommendation on Bangkok Bank Public Company Limited (BBL) with a target price at ฿160.00/share.

MBKET expected positive catalysts to kick in from the higher vaccination rate which should lead to higher consumer confidence and domestic tourism. The securities company believed the pandemic has minimal impact on BBL as it focuses on lending to large corporates (40% of total loans).

MBKET forecast earnings to jump 61% and 17% YoY in FY21/22E, thanks to lower provisions and opex. BUY with TP of THB160 (0.65x FY21E P/BV, 7.8% ROE). Key risks are weak NIM and deterioration in asset quality.


Asia Wealth Securities (AWS) has given a “BUY” recommendation on Nobel Development Public Company Limited (NOBLE) with a target price at ฿7.40/share.

AWS expected NOBLE’s 3Q21 profits to drop both YoY and QoQ and expected to be the lowest point of the year due to the impact of COVID-19 and the closure of construction camps, the presales in 3Q21 will slow down, the effect of the lockdown. AWS expected 4Q21 earnings to recover, driven by Backlog and sales of Commercial Property.

AWS revised down its 2021 earnings forecast by 18% and 13% due to delayed transfers and launch of new projects. While if the share price fell, AWS viewed it as time for gradual cumulative to receive dividends and wait for the earnings recovery again in 2H21.