BGRIM initiated Outperform tp Bt 64,CAGR +17% in Yr’20-‘22/ KEX หมด blackout period today/ CPF outperform tp Bt 38, 4Q’20 E preview Bt 6,900 mn/ ***JAK IPO Mai trading today / Tisco Neutral prefer BBL KTB KKP

GS upgraded SCB to Buy / PTTOR to add +Bt 4-5 to PTT tp / SCC Neutral 4Q21 E Bt 8500 mn + higher cemend demand/ petro vol./ ADVANC neutral **today STARK-W1 starts trading

Upgrade Brent Oil’21 to $ 55 +++Prefer PTTEP PTT TOP / Upgrade SCGP tp to Bt 50/ LH neutral tp Bt 8.50 vs Prefer SPALI***Today AUCT Group meeting at 14.30 and KEX blackout period will be ended on Jan.18

KEX blackout period end on 18 Jan./ Prefer SPALI PTTGC vs Warning AAV from cashflow problem/ cap. raising ***ICT impact : Neutral

GS targeted 12 mth SET Index at 1500/ Oil Brent avg. $ 55, might hit $ 65 in July’21/ SCBS warning for BEM E’21 downside risk from weak traffic/ ridership from WFH

GS alerts Brent Oil to hit $65 in July’21/ Warning downside risk for BEM. Prefer Cyclical Oil and GRM play

MSCI removed 3 Chinese Telecom/ Today 11/1/2564 AEONTS งบออก/ Cash balance เพิ่ม IP KCE SMT ***Brent renew.Energy outperformed

GS upgraded Thai SET Index 12 mth to 1500,Prefer Bank Energy and Procyclical/ Reflation play SCbS upgraded Thai Bank sector prefer BBL KKP KTB/ Buy SCGP SPALI and NT(CAt+TOT) mkt talk for Listing ?

Biden play Benefit Clean Energy Infra./US 10 y Bond yield +1% benefit Insurance Prefer THREL BLA /Event AUCT 14 Jan/IPO KISS /SCB CFO Group 28 Jan

Oil +/ Pro-Cyclical Play and EV Green Energy vs Warning SIRI vs Neutral Telecom