INVX Morning Call Jarivun Aiempichitkijkarn

INVX 14/6/2567: Prefer BDMS Outperform tp Bt 36,better 2Q24Earnings positive yoy/ 2567 Earnings +13% yoy to Bt 1.6 bn and IPO NKT Nakornton filing and BCP GRM recovery play with 3.5xPE and DY 7% and benefit from BSRC ***Today Football Euro Festival benefit Food and Beverage and MINT seasonal Europe high*** Funds Flow Buy Tech DELTA HANA KCE vs Sell Consumer AUTO*** SET50/100 new list announcement on June 17,2567

INVX 12/6/2567: INVX 12/6/2567 : Strategy 3’Q24 Top picks Prefer ADVANC KCE OSP PTTGC TU base on Earnings recovery

SET Index target 2567 : 1300 Buy Opportunity vs Target 1450-1500 by year end 2567 ***Research GLOBAL Outperform tp Bt 15.50 base on DCF, better Steel price back to normal level and SSSg recovery with higher margin from House brand / Stocks of the day. Prefer HANA and Gulf better 2Q24 Earnings play *** Today FOMC and BOT meeting, expected unchanged policy / Court meeting for Orange line Prefer BEM to BTS

INVX 11/6/2567: Overweight Food : Sector picks CPF Outperform tp Bt 26/ TU Outperform tp Bt 18 ( BTG Outperform tp 28/GFPT Outperform tp Bt 16) / Intetest rate no rate cut in 2024 at 2.5% , Raised 2024 NIM for large Bank Prefer BBL Ourperform tp Bt 180 and KTB outperform tp Bt 22 vs cut NIM for TISCO KKP *** Funds Flow Buy small cap. and Fx THB depreciation AAI ITC ASIAN / Telecom INTUCH ADVANC vs Sell Big cap. Energy and Bank

INVX 10/6/2567: HTC Buy tp Bt 23.50, better 2Q24 Earnings but seasonal weak in 3Q24. New high Earnings in Yr2024 Bt 686 mn/ BEM outperform tp Bt 9.50 not including Orange line +Bt 1.50 / Funds Flow Buy Tech and Healthcare / Prefer HANA / BDMS ***Program Trading Buy Rubber (higher Europe demand) STA STGT TRUBB and INTUCH *** INVX Cautious Petrochem PTTGC extra expenses in PTT Asahi Asset Devaluation booked in 2-3Q24 *** Friday 24/6/2567 ERW-W3 ex-Date ***Politics risk : INVX expected 80% chance for PM Setha and Thaksin to be survive with SET Index target 1350-1400 and 1450-1500 in 4Q24 Budget spending and Digital Wallet vs Short term Rainy season negative sentiment on Property Tourism Conmat and Commerce

INVX 7/6/2567: Today NVIDIA par split from 1 to 10 shares/ FTSE effective date to add SAFE and TAN in Micro Cap. Index***PDP 2024 Public Hearing 12-13 June 2567 Positive Gulf Outperform target Bt 63 vs Neutral GPSC BGRIM/ Research BTS Neutral / cut target price to Bt 5.90 from Bt 9.60 vs Prefer BEM/ TU Outperform tp 18, bottom Earnings in 1Q24 and better Tuna price( 1H’24 at 1400/ 2H24 at 1700 and margins recovery from PET food/ Flows Buy Tech DELTA KCE HANA and Rubber STA TRUBB *** Program Trading Buy HANA vs Sell IVL BYD

INVX : IPO CFARM Bt 1.35 (ชูวิทย์ฟาร์ม ไก่) listing in MAI / Analyst meeting BTS BTSGIF meeting today at 11.00 / Event Thai Corp Day TU&ITC CEO at 15.00 Group/ MS Team/ Stocks of the day Prefer MINT benefit from 2Q high Europe Earnings season ( Football Euro Festival during June 14-July 14,2567) and MTC Earnings growth ‘24 at 22%,better loan growth 19% with lower credit cost ***Gulf High Conviction List tp Bt 63 base on DCF, better 2Q Earnings and benefit from PDP2024, attractive valuation 1.5 SD