Kasikorn Securities forecasts PTT's second-quarter 2026 profit at 40 billion baht, up 86% from a year earlier and 56% from the previous quarter, driven mainly by the exploration and production business and the natural gas business, where gas separation plant margins expanded on higher selling prices while costs remained stable. Combined profit of six key subsidiaries is expected at 47.4 billion baht, up 157% year-on-year and 2% quarter-on-quarter, supported by higher average selling prices and sales volumes in exploration and production, as well as improved refining margins and petrochemical spreads, although oil stock losses will be a drag. The research team recommends a buy rating, raising the target price to 42.70 baht from 39.90 baht, and expects PTT to pay a first-half dividend of 1.10 baht per share, representing a yield of 2.8%.
PTT Public Company LimitedKasikorn Securities forecasts strong Q2 profit growth and raises target price, recommending buy.
