INVX 1/3/2566 : Upgrade AH Outperform tp Bt 44/CRC OP tp Bt 52/AWC Neutral tp Bt 6.20 vs Neutral TQM, cut tp to Bt 37/INVX expected Fx THB/US$ 36 mid yr and 35 yr end/MOF postponed transaction tax

: INVX expected Fx THB/US$ 36 by mid year2566 and we use THB/US$ 35 for analyst assumption.

: GS Buy CPALL cut target price to Bt 77.50 from Bt 79.25

: Research of the Day Prefer AH CRC

: 4Q'65 Earnings beat consensus Tourism CENTEL ERW/ Agri STA / Electronics HANA DELTA vs Missed Petro IVL PTTGC / Telcom TRUE/ Packaging SCGP/ Conmat. SCC SCCC

: Analyst meeting today 9.00 IVL / 9.30 BPP / 10.00 MINT CPN CPNREIT /10.45 BANPU/14.00 SAWAD BGRIM /15.00 BJC