Cost Synergies Key to Joint Venture Gains for PTT Global Chemical, S&P Says

-- Potential benefits from a proposed joint venture will materialize for PTT Global Chemical (BKK:PTTGC) only if it achieves cost synergies, S&P Global Ratings said in a recent release.

The joint venture plans with SCG Chemicals Public could make PTT Global Chemical more competitive, but it also needs to ease pressure on feedstock sourcing and keep an efficient cost structure, the rating agency said.

The company could increase its cash flow due to the deal through capital release, increased scale and diversity, and cost synergies, which would be credit positive, S&P said.

However, less feedstock self-sufficiency or a more expensive cost structure would be credit negative, according to S&P.

The company may also face limits to control and cash flow access due to a joint venture framework, the rating agency said.

S&P forecasts the company's EBITDA for this year to exceed past estimates by 40% to 50% given increased prices for petrochemicals and refined fuel products.

Prabhudas Lilladher 将 Avalon Technologies 的评级从“买入”下调至“持有”；目标价为 1233 印度卢比。

根据FactSet调查的分析师报告，Avalon Technologies（BOM:543896）的平均评级为“增持”，平均目标价为1117.93印度卢比。（报道北美、亚洲和欧洲主要银行及研究机构的股票、商品和经济研究。研究机构可通过以下链接联系我们：https://www..com/contact-us）

$BOM:543896$NSE:AVALON

Phillip Securities 将 CH Karnchang 的评级从“增持”下调至“持有”；目标价为 18.50 泰铢。

根据FactSet调查的分析师报告，CH Karnchang（BKK:CK）的平均评级为“买入”，平均目标价为21.51泰铢。（报道北美、亚洲和欧洲主要银行及研究机构的股票、商品和经济研究。研究机构可通过以下链接联系我们：https://www..com/contact-us）

$BKK:CK

Cost Synergies Key to Joint Venture Gains for PTT Global Chemical, S&P Says

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