On Monday at 10:55 AM (Bangkok time), the share price of PTT Exploration and Production Public Company Limited (SET: PTTEP) rose by 1.62% or THB 2.50 to THB 156.50, with a trading value of THB 1.53 billion.
Finansia Syrus Securities (FSS) maintains a ‘Speculative Buy’ recommendation on PTTEP, citing an average target price of THB 149.33 per share according to Bloomberg Consensus.
The ongoing conflict between the United States and Iran shows no signs of easing in the short term, noted the brokerage. Threats of attacks on energy infrastructure in the Middle East remain a significant risk, supporting a continuous rise in crude oil prices. Most recently, Brent crude has climbed back above US$110 per barrel, providing a boost to upstream energy stocks.
With energy prices expected to remain higher for longer, there is further upside potential for PTTEP’s earnings outlook in the first half of 2026 and beyond. Initial estimates suggest that for every US$1 per barrel increase in crude oil prices, PTTEP’s profit could rise by approximately 1.5%.
