At the end of the trading session on Tuesday, the share price of PTT Global Chemical Public Company Limited (SET: PTTGC) plummeted by 3.67% or THB 1.00 to THB 26.25, with a trading value of THB 489.10 million.
Kasikorn Securities (KS) believes the decline in shares of PTTGC is likely due to short-term profit-taking after a period of significant price appreciation and as upside to its target price of THB 30.2 has become more limited.
PTTGC’s third-quarter 2025 results remain weak, with ongoing negative performance driven by a 5-6% quarter-on-quarter decline in olefins spreads. Despite these near-term headwinds, KS sees the current price range of THB 24.5-25 as an attractive entry point for long-term investors.
Looking ahead, potential catalysts for the company include asset monetization plans expected later this year or in early 2026, as well as possible improvement in spreads from global capacity rationalization.
As a result, Kasikorn gives an ‘Outperform’ rating on PTTGC, with a target price set at THB 30.2 per share.
