SPRC Gains 3%, Analyst Recommends “BUY” on Healthy 4Q21 Profit Outlook

The share price of Star Petroleum Refining Public Company Limited (SPRC) rose THB0.30/share or 3.23% or THB9.60/share as of 12.11 hrs. local time in Thailand, with a trading value of THB183 million.

LH Securities recommends “BUY” on SPRC, with a target price of THB11.10, since it is the stock that benefited the most from the refining margin in 4Q21, which was significantly revised upward due to the company’s larger proportion of refinery business. Additionally, there is a potential that SPRC would pay dividends again from the THB2.90 billion profit achieved in the first nine months of 2021.