On Monday at 12:17 PM (Bangkok time), the share price of Gunkul Engineering Public Company Limited (SET: GUNKUL) jumped by 5.35% or THB 0.10 to THB 1.97, with a trading value of THB 69.74 million.
Gulf Development Public Company Limited (SET: GULF) surged 2.34% or THB 1.00 to THB 43.75, with a trading value of THB 358.45 million.
Global Power Synergy Public Company Limited (SET: GPSC) gained 3.33% or THB 1.25 to THB 38.75, with a trading value of THB 141.93 million.
Yuanta Securities (Thailand) views the appointment of Thailand’s new Energy Minister—who brings significant private sector experience in the energy industry—as a positive development for the sector, expecting his background to help reduce regulatory risks for energy-related equities and could trigger a sector re-rating.
The analyst anticipates the government will be able to advance two key energy policies over the next four months: the solar rooftop program for households and the introduction of new guidelines to support Direct Power Purchase Agreements (Direct PPA). Meanwhile, the formulation of a new Power Development Plan (PDP) is likely to require more time.
In terms of stock picks, Yuanta highlights energy and power plant shares with a strong potential to outperform the broader market. The analyst sets a target price of THB 37.50 for PTT, THB 47.00 for GPSC, and THB 2.30 for GUNKUL.
GPSC stands to benefit from the Direct PPA policy and a sustained decline in natural gas costs, while GUNKUL is seen as the primary beneficiary of household solar policies due to its presence in both power generation and EPC (Engineering, Procurement, and Construction) businesses.
Separately, Kingsford Securities recommends focusing on stocks that are set to benefit from the government’s initiatives, including the household solar program, tax incentives for solar rooftops, and Direct PPA. The analyst notes GULF and GUNKUL as the top-pick stocks.
