ZEN - Profit rising faster than peers; Initiate with BUY TP THB20.00

BEC - Expect slight improvement in 4Q22; Downgrade to HOLD TP THB10.90

SIRI - Solid 4Q22-2023 performance expected; Initiate with BUY TP THB2.20

PTT OIL AND RETAIL BUSINESS (OR TB) - Expect a hiccup in 4Q22; Maintain BUY TP THB26.00

THAI FOODS GROUP (TFG TB) - Cheap valuation and high yield; Initiate with BUY TP THB8.00

GFPT (GFPT TB) - Earnings peaking but cheap valuation; Initiate with BUY TP THB18.00

SYNEX (THAILAND) (SYNEX TB) - High season results incoming; Initiate with BUY TP THB20.00

PLAN B MEDIA (PLANB TB) - Back to the pre-Covid level; Downgrade to HOLD TP THB9.00

SOMBOON ADVANCE TECHNOLOGY (SAT TB) - Softer earnings anticipated in 4Q22; Maintain HOLD TP THB22.00

NAM YONG TERMINAL (NYT TB) - Entering the recovery stage; Upgrade to BUY TP THB4.18