IVL Gains 5% on Expected Stronger Performance in 4Q21

The share price of Indorama Venture Public Company Limited (SET: IVL) rose THB2.00/share or 4.94% to THB42.50/share as of 15:30 local time in Thailand, with a trading value of THB1,602 million.

Krungsri Securities (KSS) recommends “BUY” on IVL with a target price of THB60 per share, citing a projected stronger performance than expected in 4Q21 as most products already sold out allowing the production to run at full capacity till 1Q22. IVL sees strong 1Q22 orders given tight supply due to power shortage in China.