Yim CGS-CIMB

Morning brief 21 Feb

Udates: TVO, Jmart Jmt Singer Anan

SET target cut to 1750. STEC/CK/RAM/SPA results. ORI update.

SET navigator 2022: focusing earning visibility over recovery

Key msg from PTT KTC and CK.

TRUE+ Dtac merged co valued br3.18/shr, Petro : ethlene headwinds, pttgc erosion olefin cost

RAM (Add tp bt48.80) initiation. TRUE+ DTAC merging annouced. MINT Europe hotel rev is key.

Msci rebal (-) big caps but vaccine register start to cushion. BCH raised tp 19.7, rev peaked out.

Set index end 2021 revised down fr 1640 to 1690. Hana (+). BJC (slow recovery). CK (ug tp to nt22.5)

Siri u/g to Hold, tp tobt1.15. CHG U/g tp to br3.7

China tame raw mat px, Mint :uneven recivery, TVo ug tp 43, cpnreit dg to hold, yield 7.5%

SET (+) CK (+) new backlog, mint(-) NH struggling, Siri (pricing in XPG), Hana(+), telco prefer Ais

Hana u/g, OSP unexcitibg near term, Amata (+) fr Amatav figures.