Shares of Prima Marine Public Company Limited (PRM) rose 1.55% to 9.80 baht after Yuanta Securities (Thailand) stated in its analysis that it has a positive view on the company's performance outlook for the second half of 2026, expecting profit to grow from the same period last year and expand continuously every quarter. This is driven by the floating storage unit (FSU) business, which is expected to have 100% fleet utilization throughout the second half of 2026, up from 97.8% in Q3 and 81.8% in Q4 of 2025. Meanwhile, for the petroleum and chemical tanker (PCT) business, Q3 revenue is expected to recover after taking delivery of new, larger vessels, and gross margins are likely to improve in line with higher freight rates. PRM had a total fleet of 72 vessels at the end of Q2 2026 and expects to increase to 73 vessels by the end of this year and 78 vessels by the end of 2027. The company has also ordered two new vessels, with delivery expected in March 2028. The research department estimates normalized profit for 2026 at approximately 2.2 billion baht, up 13% from the previous year, and expects a second-half dividend of 0.33 baht per share, representing a yield of about 3.5%. Therefore, it maintains a "Buy" recommendation with a year-end 2026 target price of 12 baht.
Prima Marine Public Company LimitedYuanta maintains Buy with 12 baht target, citing strong H2 2026 profit growth and a 0.33 baht dividend.
