Shares of Indorama Ventures Public Company Limited, or IVL, rose 2.70% to 28.50 baht at 14:32 on October 7, 2026, with trading value of 555.92 million baht. Krungsri Securities Public Company Limited selected IVL as one of its top picks for investment in the fourth quarter of 2026 under the NTM Re-rating theme, after the PET industry began entering a recovery cycle driven by the gradual closure and restructuring of high-cost petrochemical plants worldwide, together with limited new capacity additions, which helps ease the oversupply problem and supports the Integrated PET spread as well as IVL's margins recovering over the medium to long term. Meanwhile, IVL's businesses are starting to show positive signals across all segments, especially Indovinya and Fibers, which have better ability to raise selling prices. As for the restructuring of its EO/EG business in the United States, although it creates additional expenses in the short term, it is expected to help reduce costs and increase returns on assets in the long term. In addition, IVL stands to benefit from Super El Niño conditions, which could pressure cotton output and push cotton prices higher, prompting textile producers to turn to polyester fibers, a positive for demand for IVL's Fibers and PET products in terms of both sales volume and capacity utilization rates. Krungsri Securities expects IVL's operating results in 2026-2028 to turn around from losses to consistent profits, estimating normal profit of approximately 6.232 billion baht in 2026 before rising to 8.436 billion baht in 2027 and 9.841 billion baht in 2028. Net profit in 2026 is expected at approximately 7.882 billion baht, compared with a net loss of 7.348 billion baht in 2025. It maintains a Buy recommendation and a 2027 target price of 28 baht per share, viewing the stock as still trading at a forward P/BV of about 1.3 times, below its long-term average, reflecting the opportunity for a valuation re-rating in line with the recovery in earnings and the industry.
Indorama Ventures PCLKrungsri Securities names IVL a top Q4 pick with a Buy rating and 28 baht target on expected profit recovery
Bank of Ayudhya PCL
