Siam Cement Faces Earnings Hit From Prolonged Global Polyethylene Oversupply -- Market Talk

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Siam Cement Faces Earnings Hit From Prolonged Global Polyethylene Oversupply -- Market Talk

Dow Jones03-20 14:25

0625 GMT - Siam Cement faces earnings hit from prolonged global polyethylene oversupply which is likely to persist through at least 2028, Maybank Securities (Thailand)'s analysts say in a note. The petrochemical industry, in which the Thai company is involved, faces a surplus as new polyethylene capacity substantially outweighs plant closures, the analysts say. There are also operational risks from the Middle East conflict, given about 49% of the company's naphtha feedstock must transit through the Strait of Hormuz. The brokerage cuts its 2026-2028 earnings forecasts for Siam Cement by 29%-66%. It lowers the stock's target price to THB180.00 from THB225.00 with an unchanged hold rating. Shares are 1.9% higher at THB185.00. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

March 20, 2026 02:25 ET (06:25 GMT)

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There are also operational risks from the Middle East conflict, given about 49% of the company's naphtha feedstock must transit through the Strait of Hormuz. The brokerage cuts its 2026-2028 earnings forecasts for Siam Cement by 29%-66%. It lowers the stock's target price to THB180.00 from THB225.00 with an unchanged hold rating. Shares are 1.9% higher at THB185.00. 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