Global Power Synergy Public Company Limited (GPSC) became the power “flagship” of PTT Group, analyst sees a solid business growth on GPSC and has given “BUY” rating at a target price of ฿78/share.
LH Securities stated that GPSC has a solid business operation and strong fundamentals, which is supported by the acquisition of GLOW and new projects. Moreover, the purchase of GPSC’s common shares by PTT Public Company Limited (PTT) from TOP has reflected an important role of GPSC as the power business flagship of PTT Group.
GPSC has announced its dividend payment of ฿0.50/share. LH Securities has given “BUY” recommendation on GPSC with a target price of ฿78/share.
Meanwhile, the Directors of GPSC revealed the progress of GRP solar power plant project with the total capacity of 39.5 MW, which has commenced the COD since 2015, the company has completed the Mergers and acquisitions (M&A) in order to acquire the 100% shares of the aforementioned project on March 24, 2020 and has fully recognized a revenue from GRP plant in 2Q20. The GRP solar power plant will enhance the equity power capacity of GPSC to reach its milestone of 5,026 MW in 2022 – 2023.