Phillip Sees Optimistic Momentum for OR as Higher Advertising Margins and Lifestyle Business Drive Help

Phillip Securities (Thailand) wrote that pressures on PTT Oil and Retail Business Public Company Limited (SET: OR) have begun to ease, as Brent crude costs have softened to round $100 per barrel from roughly $105 per barrel final week.

This motion is primarily attributed to lowered issues available in the market relating to the Middle East battle, following stories suggesting a possible settlement that might permit for the reopening of the Strait of Hormuz for oil transportation sooner or later.

The brokerage expects that it will assist enhance advertising margins, which had beforehand been beneath stress because of excessive oil costs. Although OR’s efficiency in 2Q26 could also be considerably affected by potential inventory losses, this improvement is anticipated to have a optimistic affect on the corporate’s share worth within the brief time period.

Additionally, the Lifestyle enterprise is predicted to obtain help. Second-quarter efficiency is prone to profit from elevated oil gross sales in the course of the Songkran holidays, in addition to from the expansion of the section. The authorities’s ‘Thai Chuay Thai Plus’ coverage, which offers a month-to-month monetary stimulus of THB 1,000 from June to September 2026, can be anticipated to spice up shopper buying energy.

This will possible assist improve gross sales within the firm’s meals and beverage enterprise, particularly Café Amazon. Sales at Café Amazon are anticipated to proceed rising from a file excessive of 112 million cups within the first quarter of 2026, supported by department growth to over 4,787 retailers, up from 4,742 within the fourth quarter of 2025.

Given the potential upside in OR’s share worth, Phillip Securities maintains a ‘Buy’ advice with a goal worth of THB 14.50 per share.