Thai Equity - Bottom-up - Equities, Pi Securities PCL, Thailand

Pi Research

Thai Equity - Bottom-up - Equities

Leading, full-service investment firm in Thailand

Pi Securities PCL, Thailand

Pi Securities is a well known securities company with 40 years experience in the industry, serving more than 60,000 clients. We offer one - stop service providing full range of financial products and services including extensive Brokerage, Proprietary Trading (Equities and Bonds), Advisory Services, Structured Products.

Moreover, our new research team tailored for institutional clients to focus on mid to small cap of Thai equities and trading strategies. Our services offered to our premium clients also include arrangement of company or site visits to with the managements of Thai listed companies.

Note: Effective on 1 March 2022, Country Group Securities PCL changed its name to Pi Securities

Equity Bottom-Up

<ul>
<li>Retain the HOLD rating with a target price of Bt43.0. The analyst meeting came out in a neutral tone. The macro challenges of an economic recession, prolonged Chinese lockdown</li>
<li>Neutral tone from analyst meeting Management guided that the sluggish petrochemical segment outlook was likely to persist into 2023. The cost concerns from the dynamic crude oil price situation</li>
<li>However, the polyolefins spread,viz.,HDPE and PP, which fell to a low base of US$390/ton and US$374/ton in 3Q22,are likely to pick up in 1H23 as demand recovers after China reopens.</li>
</ul>


Retain the HOLD rating with a target price of Bt43.0. The analyst meeting came out in a neutral tone. The macro challenges of an economic recession, prolonged Chinese lockdown
Neutral tone from analyst meeting Management guided that the sluggish petrochemical segment outlook was likely to persist into 2023. The cost concerns from the dynamic crude oil price situation
However, the polyolefins spread,viz.,HDPE and PP, which fell to a low base of US$390/ton and US$374/ton in 3Q22,are likely to pick up in 1H23 as demand recovers after China reopens.


PTTGC : Weak Petrochemical Spread to Persist till 2024

PTT Global Chemical

PTTGC : Weak Petrochemical Spread to Persist till 2024