TASCO shares jumped 7.48% to 15.80 baht after Krungsri Securities raised its 2026-2027 profit forecasts by an average of 38%, citing higher-than-expected asphalt prices and gross margins. The new profit forecast is 1.6 billion baht for 2026 and 1.7 billion baht for 2027. The company reported second-quarter 2026 net profit of 420 million baht, up 5% from a year earlier but down 9% from the previous quarter, as asphalt prices rose 31% year-on-year while sales volume fell to 250,000 tonnes from 280,000 tonnes in the prior quarter. The broker expects the second-half trend to remain similar to the first half, supported by the construction season in Thailand and Indonesia and asphalt prices that remain high. Current-quarter overseas prices stand at 606 dollars per tonne, up 44% from a year earlier. The company also disclosed progress on resuming oil purchases from Venezuela under one-off contracts of 600,000 barrels starting in early August, which has improved production yield to around 70%, compared with 50% from other sources, and is seen as medium-to-long-term upside for profit, with potential to reach 2 to 2.2 billion baht per year. The broker maintains a speculative buy recommendation and raised its target price to 18.9 baht, based on 2.0 times price-to-book value.
Tipco Asphalt Public Company LimitedBroker raised profit forecasts and target price, citing higher asphalt prices and margins.
