Bualuang Securities assessed PTT shares after the company reported second-quarter 2026 net profit of 52.525 billion baht, up 144% from a year earlier and 104% from the previous quarter. Excluding special items, core profit was 63.144 billion baht, up 278% year-on-year and 35% quarter-on-quarter, above research and market expectations because gas business profit beat forecasts. Gas business EBITDA was 24.7 billion baht, up 85% year-on-year and 50% quarter-on-quarter. The research team raised its 2026 net profit forecast by 36% to 137.084 billion baht and lifted its target price to 47 baht from 46 baht. InnovestX Securities said PTT posted second-quarter 2026 net profit of 52.5 billion baht, up more than 100% both year-on-year and quarter-on-quarter. EBITDA excluding hedging impacts rose 94% year-on-year and 35% quarter-on-quarter to 156 billion baht, supported by a recovery across all main business groups, led by exploration and production, gas, and petroleum and refining. The research team raised its 2026 net profit forecast by 17% and lifted its mid-2027 target price to 47 baht from 43 baht, maintaining an outperform rating. Yuanta Securities expects third-quarter 2026 momentum to slow from the previous quarter because of maintenance shutdowns, seasonal gas demand factors, and softer global petrochemical prices, but raised 2026 to 2027 profit forecasts by 13% to 21%. It set a new fair value of 45 baht and maintained a buy rating, noting that PTT is the most fully integrated energy stock, with low volatility, a strong financial position, and a dividend yield of 6.0%.
PTT Public Company LimitedQ2 profit surged 144% and brokers raised target prices to 47 baht.
