Thai Oil - Earnings and FV Revised Down to Reflect Risks of Delayed COD of CFP
While the market price appears cheap relative to the FV, we do not anticipate any positive catalysts for the stock until there is a clear...
164 Views
Thai Oil - 3Q24 Turned to a Loss as Expected; Negatives Largely Priced In
The stock price has declined further by 20% YTD and is trading at an equity risk premium (ERP) higher than the 90-day average, largely reflecting...
148 Views
Thai Oil - 3Q24E Earnings to Turn to a Loss; Revise Down GRM/Earnings
We expect the 3Q24E earnings to turn to a loss, primarily due to sustained low gross refining margins (GRM) and stock losses.
363 Views
Thai Oil - Weak 2Q24 Core Profit, but NP Cushioned by a Stock Gain and an Extra Gain
The stock price is exposed to limited downside risk and has already priced in the weak GRM and core profit in 2Q24 to a certain degree.
307 Views
Thai Oil - Weak 2Q24E Core Profit but Cushioned by Stock Gains and Extra Gains
The stock price is exposed to limited downside risk and already priced in the weak GRM and core profit in 2Q24E to a certain degree.
181 Views