GAS – FY20F earnings cut on oil price slump – Update
- We expect FY20F net profit to be hit by a combined effect of the spreading pandemic and global oil price war.
- Reiterate Hold with a lower P/E-based TP of VND61,800, assuming the global oil price bottoms in 2Q and rebounds in 2H20F.
|
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
|
|
VND58,000
|
VND61,800
|
5.17%
|
HOLD
|
OIL & GAS
|
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