GULF Gains 5% as Investors Expect a Strong 4Q21 Earnings Report

The share price of Gulf Energy Development Public Company Limited (SET: GULF) rose THB2.00/share or 4.55% to THB46.00/share as of 15.27 hrs. local time in Thailand, with a trading value of THB2,249 million.

LH Securities anticipates an increase in GULF’s earnings in 4Q21 compared to the same period last year, as the company will recognize a shared profit from INTUCH of approximately THB1.10 billion and an income from the commencement of COD on the 662.50MW GSRC#2 project. Meanwhile, GULF’s share price is expected to be boosted by the launch of a new digital business under INTUCH and additional M&A transactions. Gulf Innova Company Limited was founded lately to help GULF expand and strengthen its operations in the digital infrastructure market. Recommend “BUY” with a target price of THB45.00.