#GULF #Thailand Stocks – Dao Securities (Thailand) issued a stock analysis of Gulf Energy Development Public Company Limited or GULF, recommending Buy. Give a target price of 60 baht, with a normalized profit estimate for 1Q24 at 4.4 billion baht, an increase of 19% YoY and an increase of 3% QoQ, with YoY growth of COD new projects including the main GPD project (IPP) came unit 1 -2. (1.3GW) in a full quarter. QoQ growth picked up slightly from an improved load factor after the low season in 4Q23.
Dao Research Department Normal profit in 2024 is expected at 19 billion baht, an increase of 20%, supported by GPD main power projects (IPP) units 3-4 with a total capacity of 1,325 megawatts and Hin Kong project unit (IPP) 1. Production capacity of 770 megawatts, which will be gradually introduced to COD from the 1st quarter of 2024 onwards.
The key catalyst remains active investment domestically and abroad The short-term catalyst is the renewable energy power plant project in Thailand, Phase 2, approximately 3.7 GW, following the 5.2 GW project, which is expected to see clarity in 2024, and a new project in Vietnam after the announcement
GULF stock price moved today at 41.75 baht plus 0.75 baht or 1.83% with a trading value of 131.62 million baht.
Stay up to date with the game, know before anyone else, follow “Tan Hoon” here.
Facebook Click
YOUTUBE Click
Click Tiktok
LINE@ Click
Telegram Click
#GULF #Brokerage #notes #projects #support #fullyear #profit #growth
