Thai Oil Public Company Limited (TOP) shares rose 3.91% to 66.50 baht after a broker indicated that refining margins would remain high until 2028 and forecast 2026 earnings growth of 159% year-on-year. During the day, the price peaked at 67.25 baht with a trading value of 1,132.22 million baht. Krungsri Securities recommends "speculative buy" with a target price of 70 baht, stating that although refining margins have passed their peak, expanding demand and tighter-than-usual supply will support refining margins above average until 2028. Meanwhile, the stock trades at a 2026 PBV of approximately 0.66 times and offers medium-term returns of more than 3.5% per year.
Thai Oil Public Company LimitedKrungsri Securities issues a speculative buy with a 70 baht target and forecasts 2026 earnings growth of 159% on high refining margins until 2028.
