Brokers expect OR's second-half profit to outpace first half on oil stock gains and high season

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Analysts expect PTT Oil and Retail Business Public Company Limited, or OR, to post a recovery in the third quarter of 2026, driven by stock gains as global oil prices rise to around 90 to 100 US dollars per barrel, together with marketing margins that hold steady or improve compared with the second quarter of 2026. Sirilak Phinthusunthorn, an investment analyst covering fundamental factors in securities at Globlex Securities, said the oil business remains the core, accounting for roughly 50 to 60 percent of EBITDA, while the lifestyle business accounts for about 30 to 40 percent of EBITDA. The lifestyle business is supported by consistently growing sales at Cafe Amazon coffee shops, which are expected to rise by an average of about 3 percent in the fourth quarter of 2026, the high season for the oil business thanks to the Christmas holiday and the turn of the new year. Analysts at Bualuang Securities Public Company Limited assess that the second quarter of 2026 marked the low point of the year and expect profit in the second six months to be clearly stronger than in the first six months. They also highlight the company's strong financial position, which supports a dividend yield of 4.0 to 5.0 percent, and set a fundamental target price of 14 baht, while Globlex gives a fundamental target price of 17.30 baht per share.

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BBL Asset Management Company Limited (Bualuang Asset Management)Private▲ Positive
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Bualuang Securities assesses Q2 2026 as the year's low point and expects clearly stronger H2 profit for OR, with a 14 baht target price.

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