Finansia Syrus Securities (FSS) has a positive view on PTT Exploration and Production Public Company Limited (SET: PTTEP), following the report of escalating tension in the Strait of Hormuz that causes crude oil prices to rise.
The war situation has once again intensified after Iran closed the Strait of Hormuz, and a cargo ship was attacked. This supports Brent crude oil prices, which have surged over 6% to USD 96 per barrel. This remains a short-term sentiment boost for upstream energy stocks. Energy prices tend to stay higher for longer, strengthening PTTEP’s profit outlook for Q2-Q4 2026. The market is gradually revising up profit forecasts and target prices. For every USD 1 per barrel increase in crude oil prices, PTTEP’s profit rises approximately 1.5%.
Finansia Syrus recommends “Speculative Buy” with average target price from Bloomberg Consensus at THB 160.87. Support level: 142//140 baht; Resistance level: 149-150//154 baht.
