PTTEP shares jumped 5% at the opening bell on Friday’s trading after global crude oil prices rose 3% yesterday.
As of 11.50 hrs. local time in Thailand, the share price of PTT Exploration and Production Public Company Limited (SET: PTTEP) rose THB5.00/share or 3.12% to THB165.00/share, with a trading value of THB2,092 million.
Maybank Securities (Thailand) (MST) chose PTTEP as its daily stock pick for today (May 27). Global crude oil prices rose 3% yesterday (May 26) to a two-month high, in response to the driving season and the dollar’s downtrend. It is expected to support the performance of the upstream energy sector and the refinery sector has a good outlook. Recommend “BUY” rating with a target price of THB167.00.
