IRPC Moves Closer to Bt4.00 with a 2% Gain, Analyst Recommends “BUY” at a TP of Bt4.50

The share price of IRPC Public Company Limited (IRPC) rose ฿0.08/share or 2.15% to ฿3.80/share with a trading value of 1,039 million baht as of 10:32 local time in Thailand on Friday.

 

Maybank Kim Eng has given a “BUY” recommendation on IRPC Public Company Limited (IRPC) with a target price at ฿4.50/share.

 

Maybank expected IRPS’ olefins business in 1H21 to book higher profit than anticipated, especially ABS spread that Maybank estimated a growth as much as 30% QoQ from the missing global supply around 10%. Meanwhile, PP spread maintained at a high level amid tightening supply in U.S. and North East Asia.

 

Aira Securities stated that the share price of IRPC edged higher with a solid volume, reflecting positively to the outlook. Aira Securities gave a strong resistance level at 3.82/share. After the breakthrough, it will be the signal for Bollinger Band at the range of Bt3.82-4.30