Yuanta rates Banpu stock Buy on gas and power outlook
Published on 10/01/2026 at 20:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Yuanta Securities rates Banpu stock Buy and sets a THB 19.00 target, according to Kaohoon International on September 28, 2026. The research view points to stronger second-half operations across Banpu's mining, gas and power businesses, giving the stock a concrete earnings catalyst beyond its daily move.
Q2 earnings turned positive
Banpu reported USD 1.438 billion of sales and service income in the second quarter of 2026, up 16.00 percent from the same period a year earlier. Net profit attributable to owners reached USD 49.00 million, compared with a USD 29.00 million loss in the second quarter of 2025, while EBITDA reached USD 327.00 million, according to Quartr on September 11, 2026.
The operating improvement matters because Yuanta expects Banpu's 2027 net profit to reach THB 6.70 billion, a 4.00 percent year-over-year increase. The analyst links that projection to higher gas contributions from Barnett assets, seasonal power demand and a recovery in coal sales as Indonesian export pressure eases, Kaohoon International reports.
Gas assets add strategic weight
Banpu's investor-relations page says the group completed its amalgamation on July 31, 2026, and now combines mining, closed-loop gas, power and future-technology operations. Its listed operating platform includes 3,935 megawatts of committed thermal equity capacity, 1,011 megawatts of renewable capacity and 1,534 megawatt-hours of battery storage, according to Banpu.
The Texas expansion is another measurable part of the strategy. Banpu said its subsidiary BKV completed the acquisition of Barnett Shale assets on September 15, 2026, adding more than 65 million cubic feet per day of production, approximately 0.35 trillion cubic feet equivalent of proved developed producing reserves and an operated carbon-capture project, Kaohoon International reports.
SET price remains below high
Banpu traded at THB 14.40 on SET on October 1, 2026, down 0.69 percent from THB 14.50. The price stands 9.43 percent below the 52-week high of THB 15.90 and the market capitalization is THB 144.3 billion, while the 52-week low is THB 4.24.
Banpu stock facts
- Company: Banpu Public Company Limited
- Ticker: BANPU
- Primary exchange: SET
- Market capitalization: THB 144.3 billion (as of October 1, 2026)
- 52-week range: THB 4.24-15.90
- Sector / Industry: Energy / Coal
- Index membership: SET 50
