TOP: Solid Refinery Margin to Drive 4Q21 Performance
We expect TOP to post a solid 4Q21 net profit of Bt5.1bn (-30% YoY, +146% QoQ). •The growth will be supported by solid spike in GRM. which should...
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TOP: Recovering Refinery Margin to Drive 3Q21 Earnings
We expect TOP to post a solid 3Q21 net profit of Bt3.2bn (+353% YoY, +53% QoQ). We revise up the target price by 30% to Bt67.0 and upgrade the...
193 Views
TOP: Neutral Refinery and Weak Aromatics Outlook for 2H21
Yesterday analyst meeting came out with a neutral outlook for 2H21 refinery business. The GIM should remain stable in 3Q-4Q21 and improve 1H22...
137 Views
Earnings Review: Thai Oil Plc.
TOP’s refinery remains the challenge to its earnings given the slow recovery of the refinery market amid concern over the spread of the Delta variant.
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TOP: Long Term Positive Outlook on Investment in Chandra Asri
We have long term positive outlook on TOP’s new investment in Chandra Asri given the value accretion from entry to high value olefins business...
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