Indorama Ventures gained 5% on Wednesday, ahead of a potentially strong 4Q21 earnings report.
As of 14.55 hrs. local time in Thailand, the share price of Indorama Ventures Public Company Limited (SET: IVL) rose THB2.25/share or 5.17% to THB45.75/share, with a trading value of THB2,114 million.
Kasikorn Securities stated that the increase in IVL’s share price today was due to investor speculation over IVL’s fourth-quarter operating results. They anticipate a strong earnings outlook in comparison to peers, as spreads of PX and PTA have increased significantly in the United States and Europe. Recommend “BUY” with a THB50.90 target price.
