INVX Morning Call 20/11/2024

INVX Strategy 1Q25 Top picks Buy ADVANC AOT BCH CPALL HMPRO

SET Index target24 at 1500 and ‘25 at 1550

base on interest rate cut by 0.25% on Dec.18,24 and two 0.25% cut in 1H25***every 0.25% interest rate cut impact positive on corporate earnings and SET Index by +19 points

Program Trading Buy BCP EA SAPPE SPA BYD

GS Buy BDMS / Cut target price to Bt 36.60 from Bt 38.50,lower revenue growth guidance to 7%-8% from 10%-12% but still growth in 4Q24

Research

Stocks of the Day Prefer

+DELTA 4Q24 Earnings best qoq/yoy and AI play

+CPALL 4Q24 Earnings positive qoq/yoy, upside from interest rate cut and better SSSg

Research target change

BTS Neutral / raised target price to Bt 5.30 from Bt 5.10

HANA Downgrade to Neutral / Cut target price to Bt 30 from Outperform/ target price Bt 56