ASL

IRPC Public Company Limited reached a new high since July 6 at ฿6.65/share on August 1, 2018 at 3:39 P.M. The price went up ฿0.20/share or 3.10% with a value of 912 million baht. ASL Securities, in their analysis, recommends “BUY” IRPC at the target price of ฿8.70/share. The company estimates that IRPC would earn 4.3 billion baht of net profit, an increase of 247% compares to the same quarter of last year, and up 55% compares to the previous quarter. A stock gain record of 2.1 billion baht is the cause of this high jump, when compares to only 204 million baht of the previous quarter. As for the profit from business operating, ASL Securities estimates IRPC to gain 2.2 billion baht in profit, a decrease of 11% from the previous quarter. IRPC has an oil refinery capacity of 211,000 bbl/day. Which is considered a stable production compares to the previous quarter, while receiving less profit due to low refinery price for, especially, benzene and diesel. While Apple Wealth Securities also states in their analysis to “BUY” at the target price of ฿7.70/share. An estimation of the second quarter net profit would be 3.9 billion baht, an outstanding growth of 223% from last year and 44.2% from the previous quarter due to 1.8 billion bath ($3/bbl) profit of oil stock record. If other listed profits are to be deducted, IRPC would be left with 2 billion baht, which is a decrease of 9.1% from the previous quarter and 7.4% from last year. Petroleum segment would faces a 1.5% reduction of refinery from previous quarter at 210 KBD spread due to low season refinery and high capital premium crude price. Other than the above, the majority of brokers also suggest traders to “buy” IRPC by these given price. ASP: TP at ฿7.70/share SCBS: TP at ฿9.20/share MBKET: TP at ฿7.60/share TSC: TP at ฿7.90/share