DUSIT - Set to reap the rewards in 2025-26; Maintain BUY TP THB12.50

ITC - Poor 1Q25 profit forecast; Downgrade to HOLD TP THB23.00

SCGP - Earnings recovery starts from 1Q25; Maintain BUY TP THB29.00

TISCO - Normalization of credit cost at 100bp; Maintain HOLD TP THB95.00

CPN - Key takeaways from analyst meeting; Maintain BUY TP THB83.00

ZEN - Restaurants have not yet recovered; Upgrade to HOLD TP THB6.50

CPN - Thailand is not just Bangkok; Maintain BUY TP THB83.00

NSL - NPD is becoming a viral trend; Maintain BUY TP THB43.00

AH - Recovery faces challenges; Downgrade to HOLD TP THB13.50

WHA - WHAID’s IPO postponed; Maintain BUY TP THB5.40