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DBSV expects Thai stocks this year to reach 1,800 points, receiving government stimulus for consumption-GDP growth

DBS Vickers Securities expects the SET Index this year to reach 1,800 points, or 10% upside, benefiting consumption. and stimulating public investment. In addition, the central bank remained stable at a low level, encouraging investment, but warned of risk factors for the Fed to raise interest rates – the Chinese economy slowed down. Recommends group investment strategies, benefiting from economic recovery – rising interest rates, cheering for outstanding AOT-CPN-AMATA-PTTEP

Ms. Aphaporn Sawangpuck Executive Director Securities Research Department, DBS Vickers Securities (Thailand) Co., Ltd. revealed that at the seminar DBSV Quarterly Review Q1/22, the topic “Conquer the Year of the Tiger Raises the strategy to invest in Thai-Thai stocks” that the direction of investing in the Thai stock market in the year 65, the index still has a chance to increase continuously. The stock index target is 1,800 points, or about 10% upside from the current index level. Based on EPS growth of 9% and P/E of 19.4x (equal to year-end 64)

However, it is expected that the index will reach 1,800 points in the second half of the year. By virtue of the tourism numbers that are expected to start to recover.

Assessing economic recovery – interest rates remain low, supporting the market, but beware of the Fed’s interest rate hike

As for the positive factors that help support the overall stock market investment this year is economic recovery After the Bank of Thailand (BOT) estimates the economic growth rate for this year is 3.4%, benefiting from better government consumption and investment. as well as benefiting from the trend of domestic interest rates that are expected to remain stable at a low level until the beginning of the last quarter of this year. Make investing in the stock market interesting. In particular, dividend stocks that pay high yields beat inflation and interest. In addition, Europe began to consider COVID-19. It is endemic and people are able to return to their normal lives.

The negative factor is Overview of China’s economic growth slowing after tightening measures to curb the spread of COVID-19 In addition, the market is still concerned that the US Federal Reserve (Fed) may raise interest rates sooner than expected. After inflation remained high. and negative factors in the country Keep an eye on cases in which Thai and foreign tourists have canceled and postponed 25-50% of their bookings following the new wave of COVID-19 outbreak. Omicron breed

Recommends investment. Stocks benefit from economic recovery – interest rates are rising.

This year’s investment strategy It is recommended to invest and gradually accumulate stocks with outstanding themes that benefit from economic recovery and rising interest rates, such as commercial banking stocks, insurance business. Including stocks in the Mega Trend related to cars. EVs, Batteries, Power Plants, Hospitals and Digital & Cyber ​​Security

Cheers for outstanding AOT-CPN-AMATA-PTTEP

Mr. Sombat Ekkawanpattana, Senior Director Securities Research Department, DBS Vickers Securities (Thailand) Co., Ltd. said that the epidemic situation of the Omicron strain is not as severe as previously expected. This allows the economy to move forward and is unlikely to be shut down like last year. By looking at the number of infected people less than expected, the number of deaths dropped to the tens digit level. Omicron situation in the country is considered to be good from the cumulative raising of more than 100 million doses of vaccination and the acceleration of booster injections 3-4 needles, as well as being more prepared to cope.

There are 4 stocks that are expected to be outstanding this year and recommend a buy. AOT has a base price of 75 baht (DCF). The business outlook is expected to improve. Since the first quarter of 65 from the opening of more countries Make tourism from both domestic and abroad recover better in the long term. The risk may come from Chinese tourists increase less, King Power reward bills drop

CPN was the first stock. who have benefited from the opening of the referral city Set a base price of 66 baht (DCF). Expected rental and service income in the year. 65 will improve from lower rent discounts. After the year’s 64 is expected to be only 65% ​​of the income in 2019 before the Covid-19 outbreak in 66 is expected to return to normal levels. After the epidemic situation subsided This year’s net profit is forecast to grow 21.6% after shrinking 19.7% in 2021, which is a very good recovery.

AMATA will benefit from economic recovery The opening of the country made land sales in the industrial estates to improve. Higher income from utilities and profit sharing from investments was attributed to investments in the EEC area, while the government encouraged investment in land development in Laos to be Smart and Eco City, adjacent to Xishuangbanna. It is expected to be good in the long term. Because there is a high-speed rail route between Laos and China, the base price is 23 baht.

PTTEP recommends buying at a base price of 160 baht (DCF), forecasting a net profit in 2022 will increase 15%, reflecting the assumption of BRENT oil price up to 75 dollars per barrel from 70 dollars per barrel. demand OPEC Plus Group maintains its policy to increase production by 400,000 barrels per day for Feb.

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