The share price of Bangchank Corporation Public Company Limited (SET: BCP) rose THB1.00/share or 3.15% to THB32.75/share, with a trading value of THB171 million.
Capital Nomura Securities maintained a target price of THB45.00 on BCP, citing expectations for 1Q22 earnings of THB5,537 million (+145% YoY, +66% QoQ), driven by stock gains and rebounding gross refining margins (GRM) globally, along with higher margins in the exploration and production (E&P) business segment.
Meanwhile, full-year profit in 2022 is estimated to be THB5,814 million (down 36% YoY), with an upside of roughly 37% to THB7,790 million due to the present high refining margin trend. The marketing business has recovered in terms of both sales volume and marketing margin, while the power plant business has gradually increased the amount of electricity generated from new projects COD, and the bio-products business has recovered in accordance with biodiesel sales volume.
