Citi upgraded Formosa Petro stock to Buy with TWD 108.00 target

Published on 10/09/2026 at 12:35 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Formosa Petrochemical earned TWD 20.78 billion in the second quarter of 2026. Citi set TWD 108.00 for Formosa Petro stock.

Key points in brief

Citi upgraded Formosa Petrochemical to Buy and set a TWD 108.00 price target on September 25, 2026.
Second-quarter revenue reached TWD 182.98 billion and net income totaled TWD 20.78 billion on June 30, 2026.
The stock was last at TWD 110.50 on October 8, 2026, up 3.27 percent from TWD 107.00.
The Taiwan Stock Exchange listing has a market capitalization of TWD 1,052.6 billion and a 52-week range of TWD 40.05 to TWD 114.00.

Formosa Petro, TW0006505001, Illustration mit AI erstellt.

Formosa Petrochemical stock received a Buy upgrade from Citi, which set a TWD 108.00 target on September 25, 2026, according to Investing.com. The target was TWD 2.50 below the stock's last TWD 110.50 market price on October 8, a gap of 2.26 percent based on the two Taiwan dollar values.

Three results and target dates

Formosa Petrochemical reported revenue of TWD 161.99 billion and net income of TWD 20.41 billion for the quarter ended March 31, 2026. The figures come from the company's first-quarter financial data as reproduced by Investing.com.

For the quarter ended June 30, 2026, revenue rose to TWD 182.98 billion and net income reached TWD 20.78 billion. Revenue therefore increased by TWD 21.00 billion, or 12.96 percent, from the first quarter, while net income rose by TWD 0.37 billion, or 1.81 percent, on the same basis.

Citi's September 25, 2026 rating action was the latest dated event in this sequence. The target sits below the October 8 market price, making the relationship between earnings momentum and valuation the central investor question.

What does the target imply?

The TWD 108.00 target is 2.26 percent below TWD 110.50, while the stock remained TWD 3.50, or 3.27 percent, above its TWD 107.00 prior close on October 8, 2026. That contrast places the current market quote above Citi's published target even as second-quarter revenue exceeded first-quarter revenue by 12.96 percent.

Reporting dates remain split

TradingView lists October 29, 2026 as the next earnings date, while InvestPane lists November 11, 2026. The two dates give investors separate calendar markers for the next reported update.

Formosa Petrochemical was last at TWD 110.50 on the Taiwan Stock Exchange on October 8, 2026 at 1:30 p.m. Taipei time, up 3.27 percent versus TWD 107.00. Its market capitalization was TWD 1,052.6 billion, with a 52-week range of TWD 40.05 to TWD 114.00.

Market context: Market report TAIEX.