Stocks in Focus on 24 July 2019: PTTEP and MAJOR
Stocks in Focus on 24 July 2019: PTTEP and MAJOR
Stocks in Focus on 24 July 2019: PTTEP and MAJOR
24 ก.ค. 2562

Finansia Syrus Securities stated that PTT Exploration and Production Public Company Limited (PTTEP) will announce its 2Q2019 financial statement by tomorrow (25 July 2019) and a profit of PTTEP will be the most highlighted stock in the sector. Finansia expected PTTEP profit to increase 3% QoQ and 258% YoY to THB 12.8 billion from an increase of products volume and sale price, a good cost controlling and baht appreciation which was an advantage for tax payment.
Moreover, the investment in Murphy Oil (2H19), Partek (2020), Algeria Hassi Bir Rekaiz Project (2021), and a new concession of Bongkoch-Erawan (2022) will support a future profit growth of PTTEP.
Therefore, Finansia Syrus recommended “BUY” PTTEP share with the target price of ฿150.0 /share.
 

Finansia Syrus Securities expected Major Cineplex Group Public Co. Ltd. (MAJOR) to earn THB 495 million of profit in 2Q2019, increasing 180% QoQ due to lots of box-office movies, such as, Avengers Endgame which is the highest-grossing films of all time and earned THB 750 million or the revenue. Additionally, the other movies such as John Wick 3, Godzilla2 and Aladdin also earned THB 100 – 400 million for each movie.
However, Finansia estimated the profit to increase only 6% YoY because in 2Q2018, there were many high grossing films while 3Q2019 profit is expected to slow down when compared to the previous year due to a low season of the movie, but a whole year profit will increase 27% YoY. Finansia expected that a 2H2019 dividend of MAJOR to be ฿0.65/share (Yield 2.2%) and recommended “BUY” with the target price of ฿33.00/share.
