BANPU Gains Nearly 3% as “BofA ML” Expects Durapower’s Battery to Add Value to BANPU

The share price of Banpu Public Company Limited (BANPU) rose ฿0.30/share or 2.78% to ฿11.10/share at the closing of the morning session on Wednesday with a trading value of 1,749 million baht. The highest price in the session was ฿11.40/share and the lowest was ฿10.90/share.

 

Yesterday, Merrill Lynch (ML), an American investing and wealth management division of Bank of America, published an analysis indicating that the firm expected the global electric-vehicle trend to be bullish from 2021 onward.

In the analysis, ML gave a target price for BANPU at Bt16.40, seeing the joining with Durapower to add a value to BANPU by Bt3.00.

 

BANPU has a strategic shareholding of 47.68% in Durapower Technology (Singapore) Pte., Ltd. Both companies joined hands to establish a battery factory in China with a capacity of 1 GWh.