28/2/2566 : Research : Downgrade CPF to Neutral / cut target price to Bt 28.50 and TIDLOR to UP tp Bt 25 / Outperform CENTEL raised target price to Bt 45

Stocks of the Day Prefer AWC SNNP

Positive 4Q’65 Earnings for HANA ZEN CENTEL

***Mkt talk on Thai House Dissolution likely March 21 ( PM anniversary), not March 15

MSCI impact at the close of 28/2/2566 , effective on Mar.1,66 : Add BANPU, increase weighting TOP / Small cap. Add +AURA BTG ONEE SNNP THCOM vs – COM7 TIDLOR TISCO

Brent forecast will be $107 by end-2023 vs base-line’s $100 (OPEC raises production in 2H23).

GS Asset Allocation : neutral in our asset allocation (N Equities and Credit, UW Bonds, OW Cash and Commodities)