Pi Securities Picks 17 Large-Cap Stocks, Betting on SET Rebound in 1585-1605 Range

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Summary · why it matters

Pi Securities noted that US economic data came in below expectations, combined with crude oil prices beginning to pull back, pressuring US government bond yields to ease slightly, which in the short term is seen as a supportive factor for the stock market. Meanwhile, the latest CME FedWatch sees only a 50% chance of a rate hike in October, easing from earlier, and tonight the market awaits US PCE inflation for August, with the consensus expecting 0.3% MoM. On the Thai market, the SET faced pressure from foreign capital flows amid the strengthening dollar, but this morning the baht strengthened slightly, which could support flows. The research team expects the SET INDEX to trade in a 1585-1605 range and has selected 17 large-cap stocks across 7 groups: banking, comprising BBL, KBANK, KTB and SCB; telecommunications, comprising ADVANC; electronics, comprising HANA, KCE and DELTA; industrial estates, comprising AMATA and WHA; airlines, comprising BA; hotels, comprising MINT, CENTEL, ERW and AWC; and power plants, comprising BGRIM and GPSC. It recommends buying AWC with a target price of 3.30 baht, expecting normal profit in the second half of 2026 to grow strongly year on year, supported by room bookings growing 20% to 30% year on year, and awaiting clarity on a plan to establish a REIT within 2026. It also recommends buying BA with a target price of 22.40 baht, as the third quarter of 2026 is the high season for tourism on Koh Samui.

Impact on assets 18

Consumer Discretionary▲ · 3 stocks
Digital Finance & Tokenization▲ · 2 stocks
Energy Transition & Power Demand▲ · 2 stocks
Semiconductors▲ · 2 stocks
Financials▲ · 2 stocks
Real Estate▲ · 1 stocks
Industrials▲ · 1 stocks
Cloud & Digital Infrastructure▲ · 1 stocks
Climate Adaptation & Water▲ · 1 stocks
Electrification & Mobility▲ · 1 stocks
Artificial Intelligence▲ · 1 stocks
Others▲ · 1 stocks
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