PTT Exploration and Production faces multiple headwinds, ttb wealth securities' Yupapan Polpornprasert says in a research report. The Iran conflict's outcome has led to a more bearish long-term oil outlook, driven by supply-side headwinds including weaker supply discipline by OPEC, the analyst says. Hence, the brokerage cuts its 2027 and 2028 Brent oil assumptions to $70 per barrel and $65 a barrel, respectively, from $75 per barrel each year. This prompts the brokerage to reduce its 2027 and 2028 earnings forecasts for the Thai company by 10% and 20%, respectively. It lowers the stock's rating to sell from hold and the target price to 111.00 baht from 159.00 baht. Shares are 1.5% lower at 132.00 baht. (ronnie.harui@wsj.com)
Dow Jones Newswires
PTT Exploration and Production Faces Headwinds — Market Talk
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PTT Exploration and Production faces multiple headwinds, ttb wealth securities' Yupapan Polpornprasert says in a research report. The Iran conflict's outcome has led to a more bearish long-term oil outlook, driven by supply-side headwinds including weaker supply discipline by OPEC, the analyst says…