0656 GMT - PTT Exploration & Production's 1Q net profit is likely to be hit by a large hedging loss, say DBS Group Research analysts in a note.The Thai oil producer is likely to include losses related to oil hedging and foreign-exchange in its results, due to rising oil prices since the Middle East conflict broke out, the analysts say. Still, PTT Exploration remains DBS's top Thai energy-sector pick as it is a direct beneficiary of the crude price surge, even though its current average selling price doesn't yet fully reflect oil's gains. The company also has limited exposure to regulatory risks such as electricity tariffs. DBS maintains its buy rating and 174 baht target price on the stock. Shares last closed 1.6% lower at 157 baht. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
April 06, 2026 02:56 ET (06:56 GMT)
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