SAPPE - Profit may recover in 1Q25; Maintain BUY TP THB83.00

AP - Valuation remains attractive; Maintain BUY TP THB9.70

TU - Waiting for clarity on GMT impact; Downgrade to HOLD TP THB14.70

PR9 - Middle East patients to propel record profit; Maintain BUY TP THB30.00

SCGP - Negative factors overwhelmed 4Q; Maintain BUY TP THB29.00

ICHI - Cold weather starts to impact 4Q; Downgrade to HOLD TP THB16.00

AOT - Runway for growth in 2025; Maintain BUY TP THB65.00

GLOBAL - Entering the recovery phase; Upgrade to BUY TP THB16.70

GFPT - A positive catalyst emerged; Upgrade to BUY TP THB12.50

DELTA - 2025 profit should still grow after GMT; Maintain HOLD TP THB100.00