INVX 23/2/2566: Prefer ERW SECURE / Downgrade BEM to Neutral and Cut BLA target price to Bt 40 from Bt 49*** Warning for weak earnings of BANPU BPP TFG vs Positive ERW

Research Outperform BDMS ERW BJC HMPRO SECURE SNNP BLA MINT vs Tone down BEM vs negative BTS