The share price of Banpu Public Company Limited (SET: BANPU) edged higher on Thursday as the market speculating the strike in Australia’s LNG plant could benefit coal prices.
As of 11:33 BKK time on Thursday, the share price of BANPU rose THB0.25 or 2.66% to THB9.65 per share. Kasikorn Securities (KS) wrote in its note that gas price recorded the fastest one-day gain since the Russia and Ukraine war after workers at Woodside Energy Group and Chevron facilities in Australia threatened to strike.
KS stated that this could benefit BANPU as coal prices normally rise in parallel with gas. The brokerage firm added that BANPU has a cheap valuation at 0.7x PBV, thus, recommended “BUY” at a target price of THB10.00 per share.
Other coal operators in Thai stock market such as Asia Green Energy Pcl (SET: AGE) and The Lanna Resources Pcl. (SET: LANNA) rose 0.91% and 0.63%, respectively.
