IRPC Rebounds Near 10% after GRM Edges Higher, Expecting to be Benefited from IMO 2020
The share price of IRPC was at ฿3.88/share, increased ฿0.34/share or 9.60%, the highest of the day with a 1.04 billion baht.
As of 15:25 local time in Thailand, the share price of IRPC Public Company Limited (IRPC) was at ฿3.88/share, increased ฿0.34/share or 9.60%, the highest of the day with a 1.04 billion baht.
The share price had risen 30.1% since falling lower than ฿5.05/share on July 15, 2019, and fell 17.5% since the announcement of 2Q19 financial statement on August 5, 2019.
KT Zmico expects IRPC’s earnings to recover in 2H19E and 2020E as it should be the biggest beneficiary of the IMO regulations among peers, with the potential benefits to be the main driver for stronger market GIM in the period. As the negatives in 1H19 are largely factored into IRPC’s share price, KT Zmino maintained its outperform rating with a target price at ฿5.00/share.