INVX Morning call 21/8/2567

BOT MPC meeting today : INVX assumption for unchanged interest rate at 2.5% but potential to cut by 25 bps on Oct.16 and Dec.18,2567 to stimulus consumption and relax THB appreciation***to boost Thai 2024 GDP from our current 2.3% to 2.5%

Strategy Positive Consumer : Commerce Prefer CPALL CPAXT BJC and HMPRO GLOBAL CRC / Bank and Finance / Telecom/ Food/ Healthcare/Tech vs Cautious Energy Petrochem ***

Stock of the Day Prefer CPAXT and CKP both better 3Q24 Earnings play ***

Research BTS Neutral/ Cut target price to Bt 5.1 from Bt 5.90 from core loss Earnings’2025 and adjusted target price to Bt 4.90 if price in RO for ROCTEC and Rabbit vs Prefer BEM

GS Neutral. Bond/ Equity/Cash/ Commodities

Gold 3/6/12 m at $2600/2700/2700

Oil Brent $86/84/80 with trading range $75-90