GPSC Rises 4% in Response to High Expectation of 4Q23 Earnings Results

At the end of the morning session on Friday, the share price of Global Power Synergy Public Company Limited (SET: GPSC) rose by 4.08% or THB 2 to THB 51 per share, with a trading value of THB 331.45 million.

Krungsri Capital Securities (KCS) stated that the expected GPSC’s net profit in 4Q23 was around THB 601 million, as the profit from the sales to IU electricity recovered, the costs of energy diminished, and the GE5 power plant maintenance went as planned.

Meanwhile, oil prices were expected to drop by 2%, while the tourism sector in the country signaled some recovery, especially for the upcoming Chinese New Year Festival, which led to an expectation for the number of Chinese tourists to triple compared to January. The fall in US bond yield helped strengthen the Thai baht, as every 1 strengthening baht will also increase the profit of GPSC by 4%. The analyst gave a “BUY” recommendation to GPSC with a target price of THB 65.