- TTA added 4.76% to 5.50 baht with an increase of 0.25 baht at 10:10 a.m. The market opened at 5.35 baht, the price rose to a high of 5.50 baht and the price fell to a low of 5.35 baht.
- PSL added 3.92% to 7.95 baht with an increase of 0.30 baht at 10.11 am, the market opened at 8.00 baht, the price rose to a high of 8.00 baht and the price fell to a low of 7.90 baht.
Liberator Securities reported that the freight price index rose significantly +13% to the level of 2,102 points, the highest in one month, supported by economic stimulus measures from China that were gradually issued on an ongoing basis. We still see that transportation activities in Q4/66 and next year will gradually recover. Because demand tends to expand more than supply.
Recommended Stock: Precious Shipping Public Company Limited (PSL). The stock is still trading at a PBV of just 0.8 times, giving a strategic price target of 11.10 baht.
On the other hand, Land and Home Securities Company reported that prices of most basic commodities fell last Friday. With the exception of the BDI which rose significantly +13.3%, the DoD views this as a positive sentiment towards the bulk cargo pool. It recommends “speculative buying” of PSL and TTA (Thoresen Thai Agegency PCL.) shares because the cruise group’s operations will be closed. From Christmas until the beginning of the year. So the service has a chance of slowing down from mid-December.
By InfoQuest News Agency (November 27, 2023)
Tags: BDI, PSL, TTA, freight rates, Liberator Securities, freight stocks, Thai stocks