Strategy Note /
Thailand

TH : Strategy - Raise end-2021 SET index target to 1,740

    Kasem Prunratanamala
    Kasem Prunratanamala

    Head of Thailand Research

    Follow
    CGS-CIMB
    2 April 2021
    Published byCGS-CIMB

    Our electronics sector weighting rises as the Thai baht weakens. Rising bond yields and higher interest rates are not a major concern at this time. We lift our end-2021 SET index target from 1,640 (20x FY22F P/E) to 1,740 points, based on 21xFY22F P/E, which is still its 5-year mean. Our top picks: HANA, KCE, KBANK, SCB, SPALI, PTTGC, MEGA, PTT, TVO, ADVANC and CHG.