DELTA - Expensive PE reflects strong AI; Maintain REDUCE TP THB55.00

SPALI - 1Q25 profit likely weaker than thought; Downgrade to REDUCE TP THB14.20

MAGURO - Seeking growth from new branches; Maintain BUY TP THB24.50

CHG - On the mend - recovery in 2Q25; Maintain BUY TP THB2.60

OSP - THB10 impact likely clearer in 2Q25; Maintain BUY TP THB24.00

SIRI - A likely dull 1Q25 profit; Downgrade to HOLD TP THB1.50

ERW - Solid 1Q25E, but near-term setback; Maintain BUY TP THB4.60

TFG - Anticipating a new high profit in 1Q; Maintain BUY TP THB6.50

GPSC - Waiting for new catalysts; Maintain HOLD TP THB30.00

WHA - Solid land transfers drive 1Q25E; Maintain BUY TP THB5.40