On Monday at 10:39 AM (Bangkok time), the share price of PTT Exploration and Production Public Company Limited (SET: PTTEP) rose by 2.12% or THB 3.00 to THB 144.50, with a trading value of THB 3.86 billion.
Finansia Syrus Securities (FSS) highlights PTTEP as today’s top stock pick, recommending a ‘Speculative Buy’ rating. The average target price, based on Bloomberg Consensus, is set at THB 141.75 per share.
The ongoing war between the U.S. and Iran, with no signs of de-escalation, along with crude oil prices surging above $100 per barrel, continues to support the upstream energy sector. The sharp rise in energy prices is expected to keep profits for the first half and the entire year of 2026 on an upward trend.
Initial estimates suggest that for every $1 increase in crude oil price per barrel, PTTEP’s profit will gain approximately 1.5%. The recommended support levels are at THB 140 and THB 137, while resistance levels are set at THB 146.50 and THB 150.
DAOL Securities (Thailand) has a positive outlook for short-term crude oil prices, mainly due to the potential for reduced supply. The firm believes crude prices will remain highly volatile and elevated in the near term as transportation through the Strait of Hormuz remains blocked.
The current situation aligns with DAOL’s worst-case scenario: a prolonged war that spreads to other Middle Eastern countries and the closure of the Strait of Hormuz. Under this scenario, the analyst expects crude oil prices to average between $95 and $130 per barrel.
DAOL maintains a ‘Market-Weight’ investment rating for the energy sector and believes these developments will have a positive impact on upstream oil stocks. Among those, PTTEP remains one of the top picks (with a ‘Hold’ rating and a target price of THB 120). The broker sees short-term trading opportunities and estimates that for every $1/bbl increase in long-term crude oil prices, PTTEP’s target price would rise by THB 1.
Separately, Saudi Aramco also saw its stock surged 4.10% on Sunday. Aramco is officially the Saudi Arabian Oil Company, is a majority state-owned petroleum and natural gas company that is the national oil company of Saudi Arabia.
