GULF : Expansion in the US Plant
We maintain the BUY call while raising the TP by 7% to Bt62.0 on the back of SOTP adjustment to factor in acquisition of new 588MWe Jackson...
387 Views
GULF : Weak Earnings in 2Q22 Due to FX Losses
Maintain BUY recommendation for GULF with a target price of Bt58. Excluding FX and other extraordinary items, its 2Q22 core earnings stood at...
246 Views
GULF: Continued Growth Supported by New Power Plant COD
We maintain our BUY call with a target price of Bt58.0, derived using SOTP methodology, implying 51x PE’22E. The rising gas price has relatively...
376 Views
GULF: 4Q21 Earnings Grew from INTUCH Profit Share
The 4Q21 net profit rose to an all time high of Bt3.0bn (+65 YoY, +92% QoQ). excluding FX and other extraordinary items the recurring profit was...
247 Views
GULF: INTUCH to Be Treated Under Equity Method 4Q21 Onwards
GULF decided to treat INTUCH in its financial statement using the equity method. We see the decision to be appropriate given GULF’s net profit will...
313 Views