INVX 29/5/2566 : Today US Holiday( Memorial Day) +Positive US Debt Ceiling agreement/ETF Flows Prefer Bond Money market Small Cap. Tech/ Prefer HTC Buy tp Bt 47, DY 5% +1sd vs EPG downside risk

: GS Asia-Pacific Weekly Kickstart: MXAPJ declined 1%, dragged by China/Hong Kong and Philippines (down 2 to 4%), while Taiwan (+3%), India (+2%), Indonesia and Korea (+1%) outperformed

Info Tech significantly led, while Internet, Consumer Retails and Financial sectors lagged.

: EPG: 4QFY23 (Jan – Mar 2023): Another weak quarter. Larger loss at TJM.*** missed earnings leading earnings downgrade from the street will continue to press EPG’s share price in the near-term. We put the earnings forecast and TP under review. EPG’s analyst meeting will be on June 1, 2023.***

: HTC – Stock Note : We expect 2023 revenue to make a record high at Bt7.67bn (+9% YoY), in line with HTC’s target of +7-9%, with new capacity starting to operate in 2H23. We forecast 2023 gross margin at 41.5%.

Thus we estimate 2023 net profit is estimated at Bt629mn (+45% YoY) with 2Q23 growing YoY and flat QoQ. Buy TP Bt 47 ( 5% DY/15 x/PER +1SD).

: ETF Flows wow Buy Bond Money market Small Cap. and Tech vs Sell Japan equities and Energy

: Event 29 May 14.00 Politics, MS Team***Click here to join the meeting