PTTGC Rises 3%, Analyst Recommends “Speculating Buy” with TP ฿58/Share before XD Aug. 30
PTTGC Rises 3%, Analyst Recommends “Speculating Buy” with TP ฿58/Share before XD Aug. 30
PTTGC Rises 3%, Analyst Recommends “Speculating Buy” with TP ฿58/Share before XD Aug. 30
30 ส.ค. 2562

As of 14.46 local time in Thailand, the share of PTT Global Chemical Public Company Limited (PTTGC) was at ฿52.75/share, increased ฿1.50 or 2.93% with the trading value of ฿798.09 million. The share price has sharply risen before announcing a dividend payment tomorrow.
PTTGC approves the interim dividend payment for the 2Q2019 operating results to ordinary shareholders at the rate of ฿1.00/share which calculated as 1.90% of dividend yield. The ex-dividend date is on 30 August 2019 and the interim dividend payment shall be made on 13 September 2019. 
CGS-CIMB Securities recommended “Speculating Buy” energy sector and petrochemical sectors such as PTT PTTEP TOP PTTGC IRPC SPRC and IVL.  As a result of a recovery of 2.4% of WTI which yesterday’s session closed at USD 54.93/ barrels. Additionally, CGS-CIMB expected crude oil stock to decline continuously. CGS-CIMB said if consider crude oil price in the global market, although there is a concern about the trade war between the U.S. and China, the crude oil price has not decreased to the new low level at $51.09/barrels on 7 August 2019. However, most of the share price in the oil sector has gone in the opposite direction which was decreased to the new-low level.
Therefore, CGS-CIMB sees a chance to “Speculating Buy” PTTEP as a short term-play with a target price of ฿137.50/share.
For the refinery sector, CGS-CIMB recommended “Speculating Buy” TOP and SPRC share with the target price of ฿77.0/share and ฿11.0/share, respectively. For the petrochemical sector, CGS-CIMB recommended “Speculating Buy” PTTGC and IRPC share with the target price of ฿58.0/share and ฿4.70/share, respectively.