Refinery and petrochemical stocks surge, SPRC leads with 9% gain on refining margin recovery

EarningsAnalyst

โดย Kaohoon·Read original

Summary · why it matters

Shares in the refinery and petrochemical sector posted strong gains in morning trade today, with SPRC leading the pack, up 8.63 percent to 10.70 baht. TOP rose 1.56 percent to 65.00 baht, IRPC added 1.77 percent to 2.30 baht, BCP gained 1.67 percent to 45.75 baht, and PTTGC edged up 0.25 percent to 40.75 baht. Krungsri Securities' research unit expects SPRC to report a core operating profit of approximately 6.71 billion baht in the second quarter of 2026, a jump of 3,386 percent from the same period a year earlier and a 314 percent increase from the previous quarter. That core profit came in above the research team's earlier estimate, as crude premiums were lower than expected while global supply of crude oil and petroleum products was tighter than assessed. Meanwhile, Land and Houses Securities estimates TOP will post a core profit of around 16 billion baht in the second quarter of 2026, up 479 percent year-on-year, supported by strong refining margins despite extraordinary losses from oil stockpiles. Krungsri Securities has raised its 2026 core profit forecast for SPRC by 303 percent to 14.87 billion baht and maintains a buy rating with a target price of 11.50 baht. Land and Houses Securities recommends a speculative buy on TOP with a target price of 66 baht.