InnovestX Securities expressed a positive outlook on the shares of PTT Oil and Retail Business Public Company Limited (SET: OR), citing short-term support factors from 3Q25 earnings, which outperformed market expectations—although they were in line with the company’s own estimates.
OR’s net profit was THB 2.6 billion, up 17% from the previous quarter, and returned to profitability compared to the same period last year. The main supportive factor was improved margins on diesel and gasoline products. In addition, Café Amazon’s sales hit a new all-time high, reflecting the continued strong growth potential of the company’s non-oil business.
The company also expects profit in 4Q25 to continue its growth momentum, in line with the tourism season, which typically sees higher demand for oil products and travel.
The securities firm set a short-term target price for OR shares at THB 15.00, viewing further upside potential given the ongoing recovery in results and the positive catalysts from retail and service business expansion, which add value.
