On Friday at 10:44 AM (Bangkok time), the share price of PTT Exploration and Production Public Company Limited (SET: PTTEP) rose by 1.29% or THB 2.00 to THB 157.00, with a trading value of THB 1.30 billion.
Finansia Syrus Securities (FSS) wrote that PTTEP continues to benefit from rising Brent crude oil prices, which have recently surged to nearly $110 per barrel. This increase is driven by ongoing tensions and supply disruptions stemming from the Middle East conflict. As a result of the higher energy prices compared to the previous year, the company’s 3Q26 earnings are expected to demonstrate robust year-on-year growth.
According to consensus estimates, PTTEP’s net profit for 2026 is projected to reach THB 72.5 billion, before moderating to THB 68 billion in 2027. However, there remains potential upside to these forecasts should oil prices remain elevated for longer than currently anticipated.
Following these, Finansia recommends a ‘Speculative Buy’ on PTTEP, with the IAA consensus target price averaging THB 164 per share.
