Maybank Kim Eng Securities (Thailand) (MBKET) has given a “BUY” recommendation on TOA Paint (Thailand) Public Company Limited (SET: TOA) with a target price at ฿40.00/share.MBKET expected TOA’s earnings in 4Q21 to recover to around 500 million baht due to an increase in sales. The cost of some raw materials remained high. But it is expected to start to have a better direction in the next period due to the fall in oil prices. Combined with a 4-5% increase in selling prices, it is expected to support higher profit margins in 4Q21.
Krungsri Securities (KSS) has given a “BUY” recommendation on Exotic Food Public Company Limited (SET: XO) with a target price at ฿23.30/share.KSS expected the resurgence of Covid-19 in Europe will increase demand and sales of chilli sauce similar to the time of the first to third Covid-19 outbreak in Europe that the company made a record high in both revenue and net profit. In addition, XO has more than 80% of the revenue contribution from Europe.