Daol Securities downgrades Bangchak stock to Hold

Daol Securities Thailand downgraded Bangchak to Hold from Buy and set a THB 50.00 price target, according to MarketScreener on September 18, 2026. The rating change gives investors a clear reference point as Bangchak prepares for a leadership transition.

Hold rating meets a new target

The cited target is THB 50.00, while the Thailand-listed share last stood at THB 49.50 on October 1, 2026. That leaves the quoted target THB 0.50 above the latest primary-market price, although the two figures come from different market references and are not combined into a return estimate.

The Stock Exchange of Thailand identifies BCP as Bangchak Corporation Public Company Limited and lists the company on the SET. Its 52-week range was THB 24.20 to THB 60.75, putting the October 1 quote 18.52 percent below the yearly high and 104.55 percent above the yearly low.

Leadership change adds a second test

Bangchak reported that Chaiwat Kovavisarach will retire as group chief executive officer and president when his employment term ends on December 31, 2026. The board appointed Bundit Hansapaiboon to both roles from January 1, 2027, as MarketScreener reported on September 18, 2026.

The transition places execution alongside valuation. Bundit Hansapaiboon currently leads the refinery and marketing business group, so the appointment links the incoming chief executive directly to Bangchak's core operating activities.

Thailand's securities regulator lists Bangchak's reviewed consolidated second-quarter financial statement for the period ended June 30, 2026. The reporting date gives the rating decision a recent operating reference rather than relying only on annual figures.

Stock stays inside a wide range

Bangchak had a market value of THB 72.8 billion on October 1, 2026. The share was down 1.00 percent from the THB 50.00 prior close, while the 52-week spread of THB 36.55 shows how much the stock's trading frame has widened over the past year.

Bangchak operates oil refining and fuel marketing, with additional activities in power generation, bio-based products, natural resources, and other energy businesses. The company is included in the SET 50 Index, which keeps its valuation and leadership handover relevant to Thailand-focused portfolios.