SET still has limited upside in the short term, making AOT and BCH attractive.

1. Restricted stocks affected by MOU 23, item 8, political parties co-signatories BBL KTB KBANK HMPRO GLOBAL BCH CHG SPRC STANLY AH ONEE HTC TNP

2. Stocks for which INVX Research has increased its rating and/or increased its target price, select KKP BJC OSP.

3. For investors who can take high risks who want to speculate in the short term on the US debt ceiling negotiations, concluded to recommend DELTA PTTEP BCP

While in the short term, it is recommended to avoid investing in stocks that have risks or negative factors that put pressure on the stock price as follows:

1) Shares in the power plant group and the PTT group go out first due to risks or unclear energy price structure from the new government policy.

2) Stocks are expected to be significantly affected by the new government’s minimum wage increase policy, including the parcel delivery group (KEX), the food group (CPF ZEN GFPT TU AU CENTEL), the real estate group (LPN PSH SIRI QH AP) and the electronics group (HANA KCE).

3) Stocks whose prices have risen above COVID-19 and we recommend Underperform: AAV SAWAD MST NRF.

For the stocks recommended today, which is AOT in 2023 (October 2022-September 2023), the performance is expected to recover to a profit of 15 billion baht, with profits accelerating in the next period. This was driven by an increasing number of international travelers and the resumption of minimum fringe benefits.

BCH expects normalized earnings to improve in 2H2023 (+ HoH) and will start to see YoY growth in 4Q20, while the yield is attractive against risks. After the stock price fell by 19% in the last 1 month to date, it is trading at -2SD from the historical average PE.