Pi Securities recommends speculative plays in energy and defensive stocks as SET fluctuates in 1550-1570 range

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Summary · why it matters

Pi Securities stated that crude oil prices surging 4% are pressuring inflation and US yield trends, combined with foreign investors continuing net selling of Thai stocks by another 3.5 billion baht. The brokerage views the stock market as still in a phase of searching for a base, estimating the SET range at 1550 to 1570, and believes any upside is limited. It recommends raising some cash. Meanwhile, Brent crude closed up as much as 4.4% after reports that China ordered a suspension of oil product exports, which could cause global oil shortages. The US manufacturing PMI showed prices higher than market expectations, reflecting inflation that may be prolonged, and CME FedWatch believes the Fed will hold rates at its October meeting. Tonight, attention is on non-farm payrolls and the unemployment rate, which the market expects at 89,000 and 4.1% respectively. Recommended stocks include energy names PTT, PTTEP, PTTGC, and TOP; defensive names BCH, BDMS, BH, PR9, and ADVANC; and shopping center operator CPN. The target price for BCH is 13.20 baht, based on a positive view of the social security medical fee adjustment expected to conclude within October, and for PR9 at 20.00 baht, based on expectations that third-quarter 2026 earnings will expand quarter-on-quarter and year-on-year from investment in specialized treatment equipment.

Impact on assets 10

Health Care▲ · 3 stocks
Praram 9 Hospital Public Company Limited
PR9
▲ PositiveCapitalrelevance

Pi Securities sets a 20.00 baht target for PR9, expecting Q3 2026 earnings to expand QoQ and YoY from investment in specialized treatment equipment.

Energy Transition & Power Demand▲ · 2 stocks
Cloud & Digital Infrastructure▲ · 1 stocks
Aging Population▲ · 1 stocks
Real Estate▲ · 1 stocks
Energy▲ · 1 stocks
Materials▲ · 1 stocks
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