On Wednesday at 11:04 AM (Bangkok time), the share price of PTT Exploration and Production Public Company Limited (SET: PTTEP) rose by 1.87% or THB 2.50 to THB 136.00, with a trading value of THB 2.27 billion.
Finansia Syrus Securities (FSS) wrote that PTTEP is expected to receive positive short-term sentiment due to the recent surge in crude oil prices, attributed to renewed conflict between the United States and Iran.
For the second quarter of 2026, PTTEP’s net profit is projected to grow by approximately 100% both quarter-on-quarter and year-on-year, reaching around THB 27 billion. This robust performance is anticipated to be supported by a hedging gain, marking a turnaround from the hedging loss reported in the first quarter.
Additionally, normalized profit is estimated at THB 24 billion, reflecting continued growth driven by increases in both sales volume and selling price.
As a result, Finansia recommends a ‘Speculative Buy’ rating on PTTEP, with an average target price from the IAA Consensus set at THB 159.45 per share.
