KGI Securities has picked OR for its attractive valuation with nearly 30% upside to target price from the current trading of THB 13.20 per share at the closing of Friday’s morning session.
The securities company has released an analysis report on PTT Oil and Retail Business Public Company Limited (SET: OR), setting a target price of THB 17. The brokerage anticipates the share price will move sideways along the 200-day moving average, with key support at THB 12.8 and resistance in the THB 13.1–13.3 range. If OR’s share price can break through this resistance, there is potential for a rally to the next resistance level at approximately THB 14. Investors are recommended to set a stop-loss at THB 12.4.
Analysts highlight a strong recovery in oil marketing margin expected in August, rebounding from its lowest point in Q2/2025. This recovery is supported by the stabilization of global oil prices at lower levels. Additionally, government pressure on retail diesel prices seems to be easing as the Oil Fund’s balance continues to turn positive. These factors are seen as positives for the profit outlook of OR’s service station business.
From a valuation perspective, OR shares remain attractive, with a forward P/E ratio of just 12.4 times, which is below its historical average by two standard deviations (SD). This signals compelling investment potential in the stock.
