Analysts Recommend “BUY” PTTGC at Average TP ฿78 as a Result of Share Repurchase Program

Investors were delighted after PTT Global Chemical Public Company Limited (PTTGC) had announced the share repurchase program for financial management purpose in the maximum amount not exceeding THB 3,000 million and the number of the shares to and the number of the shares to be repurchased is 50 million shares or approximately 1.1% of the total issue shares.

In the morning session, PTTGC closed at THB 62.75/share, increasing by THB 2.25/share or 3.72% with a trading value of THB 1.4 billion. The highest of the morning session was ฿63.25/share while the lowest was THB 61.50/share.

As a result of jumping to the new direction of PTTGC, many brokers recommend investors to buy PTTGC at the average target price of THB 78.

Kasikorn Securities’ target price: THB 68/share  

Asia Plus’s target price: THB 79/share

Trinity’s target price: THB 88/share