Banpu Public Company Limited (SET: BANPU)’s stock price rose by 5.61% or increased by THB0.30, reaching THB5.65 with a trading value of 512.74 million baht, following a rise in natural gas price.
YUANTA Securities (Thailand) stated that BANPU’s stock price reflects the positive response to the recent 5% increase in natural gas prices on Friday. BANPU is expected to benefit from its natural gas (Shale Gas) business in the United States.
Despite maintaining a neutral stance, the company’s financial performance for the second quarter of 2024 did not stand out significantly due to commodity prices, such as coal prices that have decreased, and the initial low prices of natural gas during the quarter. It is recommended to consider trading with a target price of 6.60 baht.
