IVL Soars 5% as Maybank Expects Core EBITDA to Increase 27%, Recommending “BUY” at Bt43

IVL Soars 5% as Maybank Expects Core EBITDA to Increase 27%, Recommending “BUY” at Bt43.

The share price of Indorama Ventures Public Company Limited (IVL) rose ฿2.00/share or 5.23% to ฿40.25/share as of 11:32 local time in Thailand on Monday with a trading value of 1,829 million baht.

 

Maybank Kim Eng has given a “BUY” recommendation on IVL with a target price at ฿43.00/share, stating that IVL is a cyclical stock that recovers along with the economy. Maybank estimated IVL’s core EBITDA in 2021 to expand 27%, while the GPM from its products to widen due to higher demand and limited supply as the gasoline consumption boosted MTBE’s spread, and the tourism recovery would result in higher PET demand.

 

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