On Friday at 10:44 AM (Bangkok time), the share price of PTT Exploration and Production Public Company Limited (SET: PTTEP) rose by 1.38% or THB 2.00 to THB 146.50, with a trading value of THB 413.59 million.
Finansia Syrus Securities (FSS) wrote that PTTEP has received a positive sentiment boost from a recent 4% surge in Brent crude oil prices, which reached $102 per barrel. This increase follows reports that the United States is preparing to deploy additional military forces in the Middle East, reflecting heightened geopolitical tensions in the region.
Finansia expects PTTEP’s third-quarter 2026 profit to register strong year-on-year growth, supported by a significant rise in energy prices compared to the previous year. Market consensus has also revised up profit forecasts for 2026 to THB 74 billion, before anticipating a slowdown to THB 70 billion in 2027. This projection aligns with earlier assessments from the brokerage, which recognized potential upside from sustained and higher-than-expected oil prices.
As a result, Finansia maintains a ‘Speculative Buy’ recommendation on PTTEP, with the IAA Consensus average target price set at THB 166.55 per share.
