Dao expects SET to swing Sideway UP after Fed rate hike, recommends PLANB, BEM, BH

HoonSmart··THUS·Read original
2▲2 ▼0Impact / 5
Summary · why it matters

Dao Securities (Thailand) expects the SET index to swing Sideway UP today after the Fed meeting came in as expected, assessing support at 1,568-1,573 points and resistance at 1,585-1,590 points. It sees this as a chance to accumulate fundamentally strong stocks that are still laggards. Today's top picks are PLANB and BEM, while the technical-signal picks are BH and PLANB. For PLANB, COM7 will hold an EGM this morning to finalise a deal; PLANB holds 11% of COM7 and has requested two board seats. If approved, this could allow equity-method recognition, helping lift PLANB's earnings above previous forecasts in 2026E and 2027E by 4% and 30% respectively, with a buy recommendation at a target price of 7.10 baht. As for BEM, net profit in 3Q26E is expected to expand both year-on-year and quarter-on-quarter on lower interest and maintenance costs, with a catalyst from progress on the common-ticket policy, which is expected to help rail passengers grow more than 10% in 2027E and save about 100 million baht per year in costs, with a buy recommendation at a target price of 9.00 baht. Meanwhile, US stocks declined even though the Fed voted unanimously 12-0 to raise its policy rate by 0.25% to 3.75-4.00%, the first hike in more than three years after holding rates steady for five consecutive meetings. Domestically, the Cabinet approved a budget of 95 billion baht to improve irrigation systems on the eastern side of the Chao Phraya basin across eight provinces, and the Thai Tiew Thai Plus programme has been postponed to start in the low season in April 2027, with the government set to extend Thai Chuay Thai Plus in the meantime until the end of the year.

Impact on assets 6

Industrials▲ · 1 stocks
Communication Services▲ · 1 stocks
Plan B Media PCL
PLANB
▲ PositiveCapitalrelevance

If the COM7 deal is approved, equity-method recognition could lift PLANB's 2026E/2027E earnings by 4%/30%, with a buy rating and 7.10 baht target.

Consumer Discretionary▲ · 1 stocks
Com7 PCL
COM7
± MixedRegulationrelevance

COM7 holds an EGM to finalise a deal in which PLANB, an 11% holder, requested two board seats; COM7's own impact is unclear.

Health Care▲ · 1 stocks
Others▲ · 2 stocks
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