BCP Jumps 4%, Analyst Rates “BUY” with TP of ฿32.5 as Travel Rebound Will Boost Oil Sales
BCP rose 4.39% on expectations of a boost in oil sales from the easing of lockdown measures and the Rao Tiew Duay Kan scheme
The share price of Bangchak Corporation Public Company Limited (BCP) rose ฿1.25/share or 4.39% to ฿29.75/share as of 14:55 local time in Thailand, with a trading value of 135 million baht.
LH Securities said that BCP is one of the stocks that will benefit from the easing of lockdown measures and Rao Tiew Duay Kan (We Travel Together) scheme, phase 3, as a rebound in travel will boost oil sales. In addition, the GRM of SG has increased significantly, bolstering the refinery business.
Besides that, BCP has filed for the IPO of BBGI shares, of which it owns 60%. This will enable the value of BCP to be realized. LH holds a “BUY” recommendation with a target price of 32.50 baht.