BANPU Gains 6% to Bt16.40 after Coal Prices Continue Making a 10-Year High
BANPU rose nearly 6% to Bt16.40 per share after the coal price (Newcastle) rose to a new high in more than 10 years.
The share price of Banpu Public Company Limited (BANPU) extended the gain by nearly 6% to ฿16.40/share after the coal price (Newcastle) rose to a new high in more than 10 years.
In the morning session on June 25, 2021, BANPU gained ฿0.90/share or 5.81% to trade at ฿16.10/share with a trading value of 842 million baht.
Yesterday, the coal price (Newcastle) closed at $127.50/MT, a new high in more than 10 years.
LH Securities (LHS) recommended a “Speculative-Buy” rating on BANPU with a target price of 17.50 baht per share, citing the continued rise in global coal prices. As of now, the price has already exceeded USD120. Thus, LHS forecasts that the relentless rise in coal prices, together with the restart of the Hongsa Power Plant, will bolster BANPU’s 2Q21 outlook.