PTG Energy Retains Bull on Tailwinds — Market Talk

PTG Energy remains a buy call for ttb wealth securities on some tailwinds, the brokerage's Yupapan Polpornprasert says in a research report. Management guided for oil marketing margins to improve to 1.6-1.8 baht per liter during April-May, up from 1.3 baht per liter in 1Q, the analyst notes. This is being driven by lower volatility in Thailand's diesel prices and easing government intervention in the industry's marketing margins. However, the brokerage cuts its earnings estimates for PTG Energy by 37% for 2026, 18% for 2027, and 19% for 2028 to partly reflect one-off margin correction in 1Q. It lowers the stock's target price to 10.50 baht from 11.50 baht. Shares are unchanged at 7.30 baht. (ronnie.harui@wsj.com)