bullish
PTTEP: Solid Product Prices to Drive 3Q21 Earnings
We expect PTTEP to post a solid 3Q21 net profit of Bt10.1bn (+40% YoY, +41% QoQ). We maintain the BUY recommendation based on a target price of Bt146, derived using DCF methodology (WACC 9.4%,TG 2%)
SUMMARY
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Pi Securities PCL, Thailand
Leading, full-service investment firm in Thailand
- PTTEP: Prudent Growth in 2022-26 from 5.0% CAGR Sales02 Dec 2021
- PTTEP: High Crude Oil Price to Support 4Q21-2022 Earnings Momentum01 Nov 2021
- PTTEP: Healthy Selling Price and Sales Volume Drove 3Q21 Earnings29 Oct 2021
- PTTEP: Solid Product Prices to Drive 3Q21 Earnings07 Oct 2021
- PTTEP: Temporary Weak 3Q21 Operation Due to Lower Gas Nomination02 Aug 2021
- PTTEP: Record Sales to Drive 2Q21 Earnings09 Jul 2021
- PTTEP: Strong Operations to Support 2Q21 Earnings and Ahead29 Apr 2021
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