TA research shared a few key investment themes for 2024, which are the digital economy, domestic spending, green investments, recovery play, and tourism.

In terms of the digital economy, TA Research said Telekom Malaysia Bhd (TM) would be the best bet as it is poised to benefit from opportunities within the private and public sectors alongside their pursuit of digital transformation. TA Research has set a target price (TP) of RM6.65 for the telco.

On domestic spending, the research house shared its picks such as AEON Co (M) Bhd (TP: RM1.57), Gamuda Bhd (TP: RM5.19), Sime Darby Property Bhd (TP: 89 sen), Sunway Bhd (TP: RM2.40) and Westports Bhd (TP: RM4.03)

For green investments, TA Research picked Malakoff Bhd and Tenaga Nasional Bhd - with target prices of 75 sen and RM11 respectively.

“[On Malakoff] The sharp plunge in coal prices early this year has led to negative fuel margins as the fuel cost lags energy payment received for independent power producers.

“Nonetheless, coal prices have stabilised in recent months, signalling a potential improvement in negative fuel margins,” it said.

TA Research believes that Tenaga would be the main beneficiary for the National Energy Transition Roadmap (NETR).

On recovery plays, the research house said its top picks were Duopharma Bhd (TP: RM1.47) and Inari Amertron Bhd (TP: RM3.55)

As for tourism plays, it highlighted Malaysia Airports Holdings Bhd (MAHB) (TP:RM7.85) and Focus Point Holdings Bhd (TP: RM1.11).

The research house also named CIMB Holdings Bhd (TP: RM6.60), MISC Bhd (TP:RM8) and Hong Leong Bank Bhd (TP: RM21.60) as picks for foreign buying undervalued blue chips.