The share price of Banpu Public Company Limited (SET: BANPU) rose THB0.40 or 3.67% per share to THB 11.30 as of 10:16 local time in Thailand on March 1, 2022.
Krungsri Securities (KS) stated that the increase in BANPU’s share price was due to a surge in coal price that recently hit a record higher at $274.5/mt, while the share price of BANPU is still laggard compared to its subsidiary, ITMG, traded in Indonesia stock market. ITMD had gained 30% this year, whereas BANPU gained only 2.8%.
KS gave a “BUY” recommendation on BANPU with a target price at THB14.00 per share.
