EGCO Increases 3% as Broker Sees Positive Outlook from Project Operations

On Tuesday at 10:30 AM (Bangkok time), the share price of Electricity Generating Public Company Limited (SET: EGCO) rose by 3.35% or THB 3.50 to THB 108.00, with a trading value of THB 100.33 million.

Krungsri Securities (KSS) stated in its report that the tone from EGCO’s analyst meeting yesterday was neutral, as the Yunlin wind farm project was proceeding as planned and could fully launch the commercial operation date (COD) within 4Q24. The latest negotiation for the power supply agreement (PSA) for the QPL project was expected to come to a conclusion this year and would be effective in 2026. The agreement would maintain the positive outlook of the company’s performance and maintain the dividend payment of THB 6.50 per share.

In addition, the analyst upgraded EGCO’s estimated profit in 2026 by 11%, as the new PSA of the QPL project would presumably last 5 years, while also revising up the ratings from ‘Neutral’ to ‘Buy’, with a target price of THB 140 per share.