On Wednesday at 2:57 PM (Bangkok time), the share price of Precious Shipping Public Company Limited (SET: PSL) rose by 5.26% or THB 0.45 to THB 9.00, with a trading value of THB 210.28 million.
Kasikorn Securities (KS) anticipates that PSL will report a normalized profit of THB 291 million for the second quarter of 2026, marking a return to profitability and representing a 1.7-fold increase quarter-on-quarter.
This strong performance is attributed to robust demand for the transportation of iron ore and agricultural products. However, both PSL’s share price and consensus profit forecasts have yet to fully reflect the momentum of this recovery. Over the past year, the share price of PSL has risen by only 30%, compared to a 65% increase in the Supramax Index.
Starting from August, there is expected to be an uptick in agricultural imports from the United States under new trade agreements by various countries. This development is anticipated to boost the frequency of agricultural cargo shipping, providing further support for PSL’s operations.
Given these positive factors, Kasikorn maintains an ‘Outperform’ recommendation for PSL, with a target price of THB 9.00 per share. This target is based on an assumed price-to-book value of 0.85x.
